Gold price breaks record: troy ounce over 2,400 US dollars

Gold price breaks record: troy ounce over 2,400 US dollars

Gold is currently experiencing unprecedented highs as the price of gold breaks one record after another. At the end of last week, the price of a troy ounce temporarily reached more than 2,400 US dollars (2,237.6 euros) and is currently just below this historical mark. At the same time, the silver price is also at its highest level since February 2021.

This development on the precious metal market is influenced by various factors. The driving forces include, among other things, uncertainty on the financial markets, geopolitical tensions and the ongoing low interest rate policy of many central banks. In times of economic instability, investors are increasingly looking for safe havens, making gold and silver more attractive as “safe havens”.

In addition, gold is also viewed as an inflation hedge because it historically has a value preservation function. With inflation rates rising in various parts of the world, investors are looking at gold as a way to protect their assets from depreciation due to inflation.

Given these factors, experts predict that gold prices will remain strong and may even break more records. However, it remains to be seen how the various influencing factors will develop in the coming weeks and months and what impact they will have on the gold and silver markets.