Gold stabilizes after approaching $5,000 per ounce
Capitals, January 23 / WAM / Gold prices stabilized today after a record rise approaching five thousand dollars per ounce, while silver prices approached the level
$100 is supported by increased buying and strong fundamentals.
Gold settled in spot transactions at $4,931.28 per ounce by 1332 GMT, after hitting a record high of $4,967.03 earlier in the day. US gold futures for February delivery rose 0.4 percent to $4,934.20 an ounce.
Gold had declined in spot transactions due to investors’ tendency to take profits.
Silver and platinum prices also recorded their highest levels ever.
Prices have jumped 14 percent since the beginning of the year.
Purchases by central banks and the broader trend towards getting rid of the dollar contributed to pushing gold prices to levels
record, as investors seek to hedge against the risks and fluctuations of global monetary policies.
Silver has achieved gains of 37 percent since the beginning of the year.
Platinum rose in spot transactions 1.5 percent to $2,667.47 an ounce, after reaching a record level of $2,684.43 at the time.
former. Platinum has risen 30 percent since the beginning of the year. Palladium fell 0.7 percent to $1,907.45.
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