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Gold hits new record amid global uncertainty
(MENAFN) Gold prices reach another record high on Tuesday as ongoing geopolitical and economic concerns drive investor demand, according to reports.
Spot gold rises about 0.76% to $4,714 per ounce by 0700 GMT, after earlier touching an all-time peak of $4,717. Over the past 12 months, gold has surged roughly 73.1%, fueled by trade tensions, geopolitical risks, and central bank interest rate cuts.
Silver also sees gains, increasing 0.26% to $94.14 per ounce, marking a more than 207.7% rise over the past year.
Analysts attribute the rally to renewed geopolitical concerns, including debates over Greenland following US President Donald Trump’s weekend comments threatening further tariffs on countries opposing US control of the island and the potential deployment of military forces, which are seen as supporting safe-haven investments like precious metals.
Spot gold rises about 0.76% to $4,714 per ounce by 0700 GMT, after earlier touching an all-time peak of $4,717. Over the past 12 months, gold has surged roughly 73.1%, fueled by trade tensions, geopolitical risks, and central bank interest rate cuts.
Silver also sees gains, increasing 0.26% to $94.14 per ounce, marking a more than 207.7% rise over the past year.
Analysts attribute the rally to renewed geopolitical concerns, including debates over Greenland following US President Donald Trump’s weekend comments threatening further tariffs on countries opposing US control of the island and the potential deployment of military forces, which are seen as supporting safe-haven investments like precious metals.
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