For the first time in history: gold prices have exceeded $4,700 per ounce
20 January 10:12
On Tuesday, January 20, gold prices rose above $4,700 per ounce for the first time in history: US President Donald Trump’s threats to impose additional tariffs on a number of European allies increased demand for safe-haven assets.
This was reported by "Komersant Ukrainian" with reference to Reuters.
The spot price of gold rose 0.94% to $4,713.42 per troy ounce by 08:18 Kyiv time, peaking at $4,716.14. Silver fell 0.6% to $94.11 per ounce, but in morning trading, this metal also hit a historic high, rising to $94.72.
“Trump’s disruptive approach to international politics and his desire to lower interest rates are benefiting precious metals, as reflected in the rally in gold and silver,” said Tim Waterer of KCM Trade.
Since the start of Trump’s second term, gold has soared more than 70%.
Support for Tuesday’s prices also comes from concerns about the independence of the US central bank: on Wednesday, January 21, the US Supreme Court will hear a case regarding Trump’s dismissal of Federal Reserve Board member Lisa Cook. Palladium fell 1.33% to $1,817 per ounce, and platinum fell 0.12% to $2,371.7.
