Gold Prices Continue to Soar to Record Highs

Gold prices rose by nearly 2% on Tuesday, reaching over $3,500 per troy ounce for the first time in history, according to trading data. As of 7:52 AM Moscow time, the price of June gold futures on the New York Comex exchange increased by $63.9, or 1.87%, compared to the previous close, reaching $3,489.2 per troy ounce. Earlier in the trading session, prices had surged to a historic high of $3,504.12 per troy ounce.

At the same time, as of 7:52 AM Moscow time, May silver futures also increased by 0.8%, priced at $32.783 per ounce.

“The rapid rise in gold prices this year suggests to me that markets have less confidence in the U.S. than ever,” quoted Bloomberg citing Lee Yan Lei, an analyst at Kallanish Index Services.