Spot gold touched an all-time high of $3,350 per troy ounce on Wednesday before settling at $3,338.43, marking a 3.61 percent gain from the previous session.
On the New York Mercantile Exchange, June gold futures also mirrored the momentum, closing at $3,355.10 per ounce — sustaining a remarkable upward trend in precious metals.
By Friday afternoon, however, the momentum had softened. Spot gold traded at $3,315.13, down 0.03 percent from the previous day, while June futures fell to $3,328.40.
Analysts attributed gold’s ascent to heightened investor anxiety surrounding U.S. trade policy and ongoing global economic uncertainty, which has bolstered demand for traditional safe-haven assets.
A weakening U.S. dollar further amplified gold’s rise. Because gold is priced in dollars, a decline in the greenback typically makes the metal more attractive to foreign investors.
reporter
Kim Dong-young
davekim0807@ajupress.com
Copyright ⓒ Aju Press All rights reserved.
View more comments