ArmInfo. Gold prices continued to rise on Wednesday, setting new all-time highs. This morning, gold futures on the Comex exchange rose by approximately 4% to $5,326.5 per ounce. Since the beginning of this year, the precious metal has risen by 22%.
Silver futures rose by 7.5% to $113.9 per ounce, while platinum futures rose by 5.5% to $2,676 per ounce.
Precious metals are supported by a weaker dollar and heightened geopolitical tensions.
The DXY index, which tracks the dollar against six major global currencies, has lost 2.6% over the past five days. Earlier, US President Donald Trump stated that he is not concerned about the dollar's decline and considers it not too serious.
"Gold prices are rising in a very strong inverse correlation with the dollar after Trump's answer to a question about the dollar showed that there is a consensus in the White House for further weakening of the US currency," noted Kelvin Wong, senior market analyst at OANDA.
