Update: Gold Trading at Another Record High as Momentum Buying for Precious Metals Continues
Gold prices reached a record high, nearing US$5,000 per ounce, driven by momentum buying and a weakening dollar. February gold delivery rose US$67.80 to US$4,998.30, while silver increased by US$5.10 to US$101.47. Gold's price has surged 71% over the past year and 9.1% in the last month, supported by strong demand from central banks and ETFs. Analysts note that the rally is fueled by FOMO and easing U.S.-EU tensions, despite rising Treasury yields, which typically pressure gold prices.
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