Gold Hits New Record
Spot gold climbed nearly 2% to $4,860 per ounce by 0950GMT, after briefly touching a historic peak of $4,888 earlier in the day. Over the past year, gold has soared by approximately 77.1%, fueled by trade disputes, geopolitical frictions, and monetary easing by central banks.
Silver also saw gains, rising 0.66% to $95.11 per ounce. Its value has surged more than 208.4% in the last 12 months, underscoring strong investor interest in precious metals.
Analysts pointed to renewed geopolitical unease, particularly debates surrounding Greenland, following US President Donald Trump’s recent remarks about imposing additional tariffs on nations resisting American control of the territory and the deployment of military forces there.
These developments have heightened risk sentiment, driving investors toward safe-haven assets.
Attention now turns to Trump’s speech at Davos, which markets are closely monitoring for further signals on trade and geopolitical strategy.
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