New york: The price of gold in global commodity markets has surpassed a historic high, surpassing the $5,000 mark, APA reports. The price of a troy ounce of gold on COMEX, specifically the April 2026 contract, reached $5,017, marking an increase of $67.6 or 1.37% during the day. In the spot market, gold settled at $4,987, reflecting an increase of 1.04%.
According to Azeri-Press News Agency, other precious metals are also on the rise. Silver experienced a 5.15% increase, reaching $101.33 on the COMEX. Platinum saw a rise of 5.35% to $2,778 on the spot market, and copper climbed 2.92% to 594.75 cents per pound.
Analysts have attributed the price increase to several factors, including rising global geopolitical risks, heightened demand for gold from central banks, and uncertainty surrounding inflation and interest rates. Additionally, investors are gravitating towards “safe haven” assets in response to these uncertainties. Fluctuations in the US dollar’s position and a weakening risk appetite in financial markets are also contributing factors supporting the price of gold.