Gold prices witnessed a significant increase, exceeding the level of $5,000 per ounce, driven by the return of investors wishing to benefit from price declines, following a week characterized by sharp fluctuations in the precious metals markets.
During Asian trading on Monday, the yellow metal recorded an increase of 1.7%, compensating for a large part of the losses it incurred after the historic decline witnessed at the end of last month. Gold has recovered nearly half of its ongoing losses since falling from its record high on January 29. Silver prices also rose.
Silver market movements were characterized by greater volatility compared to gold, due to the impact of speculation and the decline in liquidity in over-the-counter trading. The price of silver, which has lost more than a third of its value since reaching its highest level, rose as much as 6% on Monday, with the price exceeding $82 per ounce.
While platinum saw little change, the price of palladium rose. On the other hand, the Bloomberg Dollar Spot Index, which is a measure of the strength of the US currency, fell by 0.2%. (Bloomberg)
