Khaberni - Gold, silver, and platinum metals reached new record highs on Friday, amid falling confidence in American assets due to geopolitical tensions and economic uncertainty.
Gold rose in spot transactions by 0.3% to $4951.91 per ounce by 03:58 Greenwich Mean Time after hitting a record high earlier in the day at $4966.59.
U.S. futures contracts for gold delivery in February increased by 0.8% to $4952.80 per ounce.
The dollar index hovered near its lowest level in more than two weeks on Friday, dropping 1% over the week, making U.S. dollar-priced metals cheaper for overseas buyers, while Wall Street's main indices experienced sharp selling earlier in the week after new tariff threats by U.S. President Donald Trump on countries in the European Union rattled investors before recovering later.
European Union leaders breathed a sigh of relief after Trump backed down from his decision regarding Greenland but issued a warning after their emergency summit meeting in Brussels late Thursday that they are prepared to act if Trump threatens them again.
The American President stated that he ensured full and permanent American access to Greenland in an agreement with NATO.
The details of the agreement remain unclear, and Denmark insists that its sovereignty over the island is not up for debate.
Silver rose in spot transactions by 2.6% to $98.71 per ounce after hitting a record high of $99.20 earlier.
Platinum increased in spot transactions by 0.4% to $2639.40 per ounce after recording a record high of $2684.43 earlier, while palladium fell by 0.9% to $1903.10.
