Gold prices are rising again: what are the main factors behind the increase?
21 January 09:23
Global gold prices rose to a record high of over $4,800 per ounce amid growing demand and a decline in the dollar.
This was reported by "Komersant Ukrainian" with reference to Reuters.
The spot price of gold rose 1.2% to $4,821.26 per ounce after earlier reaching a record high of $4,843.67 during the session. US gold futures for February delivery rose 1% to $4,813.50 per ounce.
“This is a loss of confidence in the US caused by US President Donald Trump’s moves to impose tariffs on Europe and increase pressure in an attempt to seize Greenland. The rise in gold prices reflects fears of global geopolitical tensions,” said Kyle Rodda, senior market analyst at Capital.com.
According to Rodda, investors are selling the dollar and Treasury bonds, especially long-term ones, and buying gold because confidence in gold is now greater than in the US currency.
He also noted that a weaker dollar makes precious metals, whose prices are tied to the dollar, cheaper for foreign buyers.
In addition, the spot price of silver fell 1% to $93.59 per ounce after reaching a record high of $95.87 on Tuesday.
Spot platinum fell 0.7% to $2,445.96 per ounce after hitting a record high of $2,511.80 earlier in the day, while palladium fell 0.5% to $1,857.19.
As a reminder, gold and silver prices began to rise sharply at the end of December 2025. This was facilitated, in particular, by geopolitical instability.
