Gold Prices Surpass Set Value for the First Time

Gold futures for December delivery on the Comex exchange increased by 1.16%, reaching $4050.8 per troy ounce. This marks the first time the value of the precious metal has surpassed $4050.

Silver futures also rose by 1.85%, reaching $48.3 per ounce. Gold prices have been increasing for the seventh consecutive week, with a total rise of nearly 19% during this time period. Additionally, for the first time in three years, assets in gold exchange-traded funds (ETFs) have exceeded 3,000 tonnes.