Gold and silver prices, known as safe investments in uncertain times, hit record values today, reaching $4,080 (€3,512) and $51 (€44) per ounce, respectively.
The historical records were achieved at 5:30 AM, with gold rising 1.45% to $4,077.99, following an increase past $4,000 per ounce for the first time on Wednesday. This is expected to be the most valuable market close since 1979.
Silver, whose value is buoyed by gold, also reached all-time highs, climbing 2.7% to $51.66. On Thursday, silver had reached the unprecedented level of $50, with historical records noted in June 2011 during the quantitative easing (QE) programs, when it settled at $49.80.
Both metals continue to rise amidst escalating trade tensions between the United States and China, political uncertainties due to the shutdown of U.S. federal institutions and the appointment of the new French government, and ongoing geopolitical instability, notably in Ukraine and the Middle East.
