Gold prices reach new ATH

The price of gold rose more than 2% on Tuesday, surpassing $4,700 per troy ounce for the first time in history, Report informs referring to trading data.

The price of February gold futures on the New York Comex exchange rose to $108.71 from the previous close, or 2.37%, to $4,704.11 per troy ounce. This is the first time the price has risen above $4,700. Meanwhile, March silver futures rose 6.23% to $94.052 per ounce.

Gold resumed its rise at the start of the new week after US President Donald Trump announced on Saturday the imposition of a 10% tariff in February on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland. The duty will subsequently increase to 25% and will remain in effect until the United States concludes a Greenland Purchase Agreement.