Gold and silver at highest prices in history in the world market

Geopolitical instability and the continuous fall of the dollar are causing the price of gold to jump in the world market. On Thursday (January 29), the price of gold rose to about $ 5,600 per ounce. This is the highest price in the history of the precious metal.

Reuters reported that the price of spot gold rose 2.1 percent to $ 5,513.09 per ounce as of 5:22 pm today. Earlier, at one stage of trading, the price touched $ 5,594.82, which is a new record for the price of the metal. The highest price was also seen in silver.

The report said that the price of gold has reached new highs in nine consecutive sessions. The price of the metal has increased by about 28 percent this month, which is seen as an unprecedented rise in the market.

Along with the increase in the price of gold, the price of other precious metals has also increased. The price of silver has also increased significantly due to the trend of safe investment. Silver prices crossed $120 an ounce on Thursday, their highest in a long time.

According to analysts, economic uncertainty in the United States, concerns about interest rates and global political instability are all driving investors away from risky assets and towards safe havens like gold and silver.