Gold Prices Hit New Record, Continue to Rise

The price of gold futures in commodity markets has once again reached a historic high of $3,653.3 per troy ounce (31.1 grams). According to APA-Economics, referencing stock exchange data, December gold futures prices on the New York COMEX have risen by 1.29%.

Similarly, the price of December silver futures on COMEX has increased by 0.33%, reaching $41.55 per ounce. Analysts note that the sharp rise in gold prices is mainly due to weak employment figures in the United States, the weakening of the dollar, and growing demand for gold from central banks amidst rising expectations for interest rate cuts by the Federal Reserve. At the same time, global economic and political instability is driving investors to seek gold as a safe haven.