Record prices for gold and silver have been recorded on the commodity exchange, surpassing $4,600 and $83 per troy ounce, respectively, for the first time, according to trading data reported by RIA Novosti.
Thus, at 8:09 AM Moscow time, February gold futures on the New York Comex exchange increased in price by $80.55, or 1.79 percent, reaching $4,581.45 per troy ounce. During trading, the maximum price of the precious metal reached $4,612.4.
At the same time, March silver futures rose by 5.27 percent, reaching $83.522 per ounce, and during trading, the quotes updated their record, rising to $83.88.
According to Bloomberg, factors affecting the market include recent critical statements from Donald Trump's administration regarding the Federal Reserve System, which undermined confidence in the dollar last year. Currently, investors are analyzing statements from Fed Chairman Jerome Powell about potential criminal charges from the U.S. Department of Justice, which could lead to a weakening of the dollar and, consequently, support gold prices.
As for silver, a supply deficit is expected in this market this year, mainly due to rising investment demand, as noted by BMI, part of Fitch Solutions Inc.
