Gold, Silver Rates Today LIVE: Gold and silver prices hovered near record highs on Wednesday, buoyed by strong safe-haven demand amid a weakening US dollar and escalating tensions over the Greenland crisis. Additional support came from the meltdown in the Japanese government bonds.
Spot gold price surged past the psychological milestone of $4,800 an ounce for the first time, as safe-haven demand kept bullion a favored asset. Silver prices also advanced 0.3% to $94.89 an ounce.
Heightened rhetoric at the World Economic Forum in Davos highlighted the rapid deterioration in relations between traditional allies, the US and Europe, unnerving investors. The uncertainty weighed on the dollar and reinforced demand for safe-haven assets such as precious metals.
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