Summary
- It reported that due to unstable international conditions, gold prices are rising again to record levels.
- It said that major precious metals such as silver, platinum, and palladium also rose sharply.
- It reported that growing geopolitical uncertainty has increased demand for safe-haven assets, which is a factor in the price rise.
Unstable international situation… Gold prices race back to record highs
Major precious metals prices
New York Mercantile Exchange as of the 5th
International gold prices on the 5th (local time) are again rising to record levels. Precious metal prices are showing strength due to instability in the international situation.
According to Hankyung A-Cell, at the New York Mercantile Exchange (NYMEX) on that day gold closed at $4436.90 per troy ounce, up $122.50 (2.84%) from the previous trading day.
Geopolitical uncertainty, including U.S. President Donald Trump's military intervention in Venezuela, has increased demand for gold as a safe-haven asset.
Gold hit an all-time high of $4529.1 on the 26th of last month. It then fell to $4314.4 on the 3rd of this month before resuming an upward trend.
Silver also rose. On the same day at the New York Mercantile Exchange it was $76.16 per troy ounce, jumping $5.6 (7.94%) in one day. The silver high was $77.37 on the 30th of last month, about $1 higher than that day's price.
Platinum was $2269.5, up $143.8 (6.76%), and palladium was $1742.2, up $74.2 (4.45%).
Reporter Park Jong-seo
