Post by : Badri Ariffin

On Thursday, gold and silver prices remained near historic highs, bolstered by heightened investor demand and prevailing global economic uncertainties.

As of 13:32 GMT, spot gold held steady at $4,931.28 per ounce after peaking at an unprecedented $4,967.03 earlier. Meanwhile, US gold futures for February delivery witnessed a 0.4% rise to $4,934.20 per ounce.

Gold prices dipped slightly earlier in the day as some investors took profits following a significant rally.

Both silver and platinum reached new peaks, climbing around 14% since the beginning of the year. Silver gained a remarkable 37% year-to-date, driven by robust buying activity and increased market demand.

Platinum increased by 1.5% to $2,667.47 per ounce after touching a record high of $2,684.43, marking a 30% gain this year. In contrast, palladium saw a decrease of 0.7% to $1,907.45 per ounce.

Analysts point to ongoing purchases by central banks and a pivot from the US dollar as pivotal factors behind the rising gold prices. Investors are increasingly resorting to precious metals as a safe havens amid risks associated with global monetary policy and market volatility.

#Global News