Gold Shatters Price Record Amid Global Instability
(MENAFN) Gold shattered price records Tuesday as mounting global instability propelled the precious metal to unprecedented levels.
The benchmark spot price advanced 0.76% to reach $4,714 per ounce by 0700 GMT, after peaking at an all-time high of $4,717 during earlier trading.
The yellow metal has skyrocketed approximately 73.1% across the past year, buoyed by escalating trade disputes, geopolitical flashpoints, and monetary easing policies from major central banks worldwide.
Silver followed suit with modest gains, climbing 0.26% to $94.14 per ounce. The white metal has experienced an extraordinary rally exceeding 207.7% over the same 12-month period.
Traders pointed to revived geopolitical anxieties—particularly controversy surrounding Greenland—as key drivers pressuring investor confidence and bolstering safe-haven assets. Over the weekend, US President Donald Trump issued threats of escalated tariffs against nations resisting American control of the Arctic territory, while signaling potential military deployment to the region.
The confluence of political uncertainty and economic volatility continues pushing investors toward traditional hedges, with precious metals capturing intensified demand as global tensions show no signs of abating.
The benchmark spot price advanced 0.76% to reach $4,714 per ounce by 0700 GMT, after peaking at an all-time high of $4,717 during earlier trading.
The yellow metal has skyrocketed approximately 73.1% across the past year, buoyed by escalating trade disputes, geopolitical flashpoints, and monetary easing policies from major central banks worldwide.
Silver followed suit with modest gains, climbing 0.26% to $94.14 per ounce. The white metal has experienced an extraordinary rally exceeding 207.7% over the same 12-month period.
Traders pointed to revived geopolitical anxieties—particularly controversy surrounding Greenland—as key drivers pressuring investor confidence and bolstering safe-haven assets. Over the weekend, US President Donald Trump issued threats of escalated tariffs against nations resisting American control of the Arctic territory, while signaling potential military deployment to the region.
The confluence of political uncertainty and economic volatility continues pushing investors toward traditional hedges, with precious metals capturing intensified demand as global tensions show no signs of abating.
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