Gold exceeds $4,200 per ounce for the first time in its history

Today, Wednesday, gold prices recorded an unprecedented record high, exceeding the barrier of $4,200 per ounce, driven by increasing expectations of a reduction in US interest rates and global geopolitical tensions, which strengthened investors’ orientation towards gold as a safe haven.

According to trading data, gold rose in spot transactions by 1.2% to reach $4,188.95 per ounce, after reaching its highest level ever at $4,217.95. US gold futures for December delivery also rose by 1% to reach $4,205.20.

Silver prices also rose by 2.5% to reach $52.75, platinum by 0.9% to reach $1,651.85, and palladium by 1.8% to reach $1,553.43, amid a shortage in supply and high rental costs in global markets.