That’s not the end of it: gold and silver prices have hit record highs
27 February 10:23
On Friday, February 27, global gold prices showed steady growth, settling above the psychological mark of $5,100 per ounce.
This was reported by [Komersant], citing a Reuters publication.
The spot price of gold rose 0.1% to $5,180.00 per ounce. US gold futures for April delivery rose 0.1% to $5,196.70.
Bybit chief analyst Khan Tan notes that the weak dollar and unclear forecasts regarding the future US trade strategy are allowing prices to remain stable above the critical $5,000 mark.
According to the expert, if the current tensions continue, investors will try to return prices to historic highs.
“The yield on 10-year US Treasury bonds after inflation, i.e., the real yield, has fallen sharply, and this is actually now a supporting factor allowing gold to remain stable, regardless of risk premiums, which fell yesterday after talks between the US and Iran,” said Kelvin Wong, senior market analyst at OANDA.
Donald Trump’s tariff policy
The US president’s speech on the state of the nation gave the market an additional boost.
Donald Trump stressed that most countries and large corporations are committed to complying with previously concluded agreements, but Washington has already taken decisive action. The White House confirmed the launch of a temporary global import tariff of 10%, which came into effect on Tuesday.
Moreover, the US administration is already considering raising this rate to 15%, which is forcing major market players to seek refuge in gold as a traditional “safe haven.”
Escalation around Iran
The geopolitical background is significantly complicated by the situation in the Middle East. There are alarming reports of military cooperation between Tehran and Beijing.
Iran is close to purchasing Chinese cruise missiles, which could potentially be used against US naval forces in the region.
Against this backdrop, the spot price of silver also showed explosive growth, rising to $90.10 per ounce, the highest level in the last three weeks.
