Gold and silver prices have reached a historic record

On January 12, the price of gold exceeded $4,600 per ounce for the first time. This was reported by Zamin.uz.

This indicator emerged due to increased demand for safe-haven assets. Additionally, the price of silver also reached a record level.

Reuters reported on this. As of 04:10 Greenwich Mean Time, the spot price of gold rose by 1.3% to $4,566.80.

During the day, the price reached up to $4,600.33. Gold futures for delivery in February in the United States increased by 1.8% to $4,579.10.

The rise in silver prices was even more significant. Its spot price increased by 4.1% to $83.20 per ounce.

During trading, the price of silver reached $83.96, setting a historic record. Such sharp price changes were caused by statements from Jerome Powell, head of the U.S. Federal Reserve System.

He emphasized that pressure was exerted on him due to directives from Congress under the Donald Trump administration. According to Powell, this was an attempt to force the Federal Reserve to lower interest rates.

Against this backdrop, the U.S. dollar weakened, and stock index futures declined. Market experts expect the Federal Reserve to cut rates at least twice in 2026.

This is increasing interest in non-yielding assets such as gold and silver. According to Tim Waterer, chief analyst at KCM Trade, demand for precious metals from central banks will continue to grow.

It is noted that in conditions of geopolitical and financial instability, precious metals are viewed as a reliable alternative asset.