The price of gold on Thursday, approached a new record, reaching $5,594 per ounce, following intense geopolitical tensions and weakening economic indicators in the United States. At the same time, the price of silver also exceeded $120 per ounce and recorded significant growth.
According to statistics from the past month, the price of gold has increased by more than 27% and the price of silver by almost 64%. This significant jump has made gold and silver more attractive than ever as safe assets against global instability.
Ricardo Evangelista, a leading analyst at a UK-based financial services firm, stated in his analysis: “Given the current uncertain geopolitical and economic conditions, further increases in gold prices are quite likely. This precious metal could cross the $6,000 level and, after a period of price stabilization, move towards $7,000 per ounce by the end of this year.”
