GOLD prices broke through the US$3,500 mark for the first time in history on Tuesday, surging nearly 2 per cent during early trading on the New York Commodities Exchange (COMEX).
According to trading data reported by Sputnik and RIA Novosti, June gold futures rose by US$63.90 or 1.87 per cent to US$3,489.20 per troy ounce as of 4:52 GMT. During the session, gold prices reached an unprecedented high of US$3,504.12 per ounce.
Silver also saw gains, with May futures rising by 0.8 per cent to US$32.783 an ounce during the same period.
The historic rise follows Monday’s rally, where gold climbed past US$3,430 per ounce, continuing a trend fuelled by increasing market volatility, geopolitical tensions, and ongoing inflation concerns.
Gold, often viewed as a safe-haven asset during times of economic uncertainty, has drawn strong investor demand in recent weeks, leading to a sharp price uptrend. - April 22, 2025
