Gold continues to rise as the dollar declines to its lowest level in 4 months
Gold prices reached a record high, exceeding $5,100 per ounce, today, Monday, as central banks and investors resort to a safe haven from geopolitical risks and market fluctuations resulting from the policies of US President Donald Trump.
The price of gold in spot transactions rose by 2.2% to reach $5,091.61 per ounce by 11:40 GMT, after hitting a record level of $5110.50. US gold futures for February delivery also rose by the same rate, reaching $5,089.90 per ounce.
In other precious metals, the price of Silverto new record levels at $110.11 per ounce, platinum gained 4.4% to $2888.51, while the price of palladium rose 5.3% to $2115.75.
Said Ole Hansen, head of commodity strategy at "Saxo Bank"US President Donald Trump and the ambiguity he creates at multiple levels are still the main driver of rising prices and investment momentum driven by the fear of missing the opportunity to buy before further rise.
Meanwhile, the The dollarto its lowest level in four months, making dollar-priced metals more attractive to holders of other currencies.
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