Banking and FinanceCommodities

Gold Prices Surge Amid Inflation Fears: New Record Possible

Gold Prices Rise Amid Inflation Concerns

Gold prices experienced a notable increase during Asian trading on February 4, 2025, nearing record highs established in the previous session. This rise is attributed to ongoing fears regarding American customs duties and persistent inflation, which have bolstered demand for this traditional safe haven asset.

As of 05:52 Baghdad time, gold prices in immediate transactions climbed 0.3 percent to $2,820.69 per ounce, following a peak of $2,830.49 in the preceding trading session. However, U.S. gold futures saw a slight decline of 0.2 percent, settling at $2,852.70.

Performance of Other Precious Metals

In addition to gold, other precious metals also showcased positive performance:

  • Silver: Increased by 0.2 percent to $31.61 per ounce.
  • Platinum: Rose by 0.7 percent to $970.80.
  • Palladium: Gained one percent, reaching $1,019.31.

Investors continue to navigate a landscape marked by economic uncertainties, driving interest in gold and other precious metals as reliable investment options.

Shares: