Khaberni - Gold prices today, Friday, rose to a new record level near $5,000, supported by geopolitical risks and threats affecting the independence of the Federal Reserve, adding momentum to an upward wave fueled by exits from currencies and bonds.
Bullion prices exceeded the level of $4967 per ounce in early trading, and are set to achieve weekly gains of nearly 8%, while silver also recorded record levels, according to the economic site Bloomberg.
Silver prices also rose, approaching $100 per ounce, benefiting from the gold price surge. The price of the white metal has more than tripled over the last year, supported by a historic selling pressure on short positions and a buying wave from individual investors, pushing banks and refineries to race to meet an unprecedented demand.
Gold increased by 0.4 percent to $4956.08 per ounce, while silver jumped by 2.5 percent to $98.6, and platinum went up by 0.4 percent to $2639.40 per ounce, after having reached a record level of $2684.43 earlier in the session, while palladium fell by 0.9 percent to $1903.10 per ounce.
After its best annual performance since 1979, gold continued a rapid upward trend to achieve additional gains of about 15% in the first weeks of this year.
