Gold breaks new records, continues its dazzling ascent
The yellow metal is back in fashion! Gold has set a new record and shows no signs of stopping. The precious metal is conquering new heights and aiming for more. According to Comex, the price of gold reached a fresh all-time high, exceeding $3,700 per troy ounce.
This week, gold futures climbed to $3,700.9 per troy ounce. Later, quotes rose even further to $3,702.5 an ounce.
It was earlier reported that the price of one troy ounce hit $3,692, and this may not be the limit.
According to Stanislav Paulauskas, a member of the advisory board for the State Duma’s Financial Market Committee, many market participants now view gold as insurance against currency risks and sanctions.
In the opinion of analysts, the growth in global gold prices is being driven by increased demand from central banks and rising geopolitical tensions. It is worth recalling that in times of adverse conditions, gold becomes more expensive as many investors choose to preserve their capital in it.