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Gold exceeded $2,700, silver – at the highs of 2012

September, 26 2024
watermark Economic news

Gold and silver prices reached historic highs on Thursday. December gold futures exceeded the $2,700 per ounce mark for the first time, rising to $2,708, and the spot price updated the record at $2,685 per ounce. 


Gold has been rising in price for eight months in a row, having received a new impetus thanks to the recent Fed interest rate cut and China's stimulus measures.


Silver is also showing impressive results, reaching a 12-year high. The spot price of silver rose 2.6% to reach $32,632 per ounce, which is the highest level since 2012. 


Silver has risen in price by 37% this year, becoming one of the most successful commodities. The Fed's incentives and expectations of further rate cuts are contributing to increased demand for both metals.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.