Gold Prices Increase On COMEX As Safe-Haven Demand Strengthens

Gold prices climbed in Thursday's trading session on the COMEX exchange (a division of NYMEX), reflecting continued investor demand for safe-haven assets amid global economic uncertainty, AzerNEWS reports.

The price of one troy ounce of gold increased by $10.7, reaching $4,819.

In contrast, silver prices moved in the opposite direction. The price of one ounce of silver fell by $0.44 to $79.15. This divergence between gold and silver is not uncommon, as the two metals often respond differently to market forces.

According to market data, geopolitical tensions have intensified inflationary risks and contributed to heightened investor anxiety. Historically, such conditions have supported gold prices, reinforcing its role as a hedge against uncertainty.

However, the narrative shifted sharply in March 2026. Gold had begun the year with a bang, rising 12.42% in January – its best monthly performance since November 2009 – and 8.9% in February, giving it a seven-month winning streak for the first time in 53 years.

The central banks of the world continue to increase the share of gold in reserves at the expense of dollar assets, a trend that has been gaining momentum since 2015.

Credir: Chris Ratcliffe / Bloomberg

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