On Thursday, gold prices rose in Asian trading, approaching record highs, even as hopes for a peace treaty between Russia and Ukraine sparked increased risk appetite in financial markets in general. This is reported by Investing, according to UNN.
Details
This happened amid a weakening dollar and persistent global economic risks. Despite higher-than-expected inflation in the US in January, the US currency lost ground, which supported gold demand.
An additional growth factor was the increase in trade duties by US President Donald Trump. Trump's tariffs have been a key factor in gold's rise in recent weeks.
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Spot gold was up 0.5% at $2,918.70 an ounce, while gold futures were up 0.6% at $2,947.0 an ounce by 23:59 EDT (04:59 GMT). Spot prices remained close to the record high of $2,943.25 an ounce reached earlier this week.
Recall
On February 11, bitcoin added 1.3%, reaching $98,435.5 at 01:54 ET.
In addition, most altcoins also showed positive dynamics, following bitcoin. Ethereum gained 3.3% to $2,718.99, while XRP rose 4.4% to $2.5113. Solana added 1.1%, Polygon gained 7%, and Cardano showed the largest jump among the major cryptocurrencies, rising by 15.5%. Among the meme tokens, Dogecoin grew by 7.1% and $TRUMP added 6.8%.