The price of an ounce of gold hit unprecedented levels today, Thursday

Gold prices have jumped globally to record unprecedented levels of one ounce over the past three years, following the release of US inflation data on Thursday 10 November, which strengthened the stance against the direction of the Federal Reserve to ease its monetary policy.

gold ounce price

The ounce climbed to gains of $ 43, to the $ 1,750 level, which is the highest level since late August, compared to the opening price near the $ 1707 range this morning, Thursday.

dollar index

Registering an increase of 2.50% and 42.39 points, after the increase in the demand rate after the drop in the dollar index, which measures the performance of the US currency against a basket of currencies such as the yen, the yuan and the Australian pound, which were affected by recent inflation data, which paved the way for a drop of 2.03% and 2,268 points, to 108.162.

gold

Gold is one of the most important safe haven assets to protect against high inflation rates and is affected by central bank interest rates, which increase the opportunity cost of buying bullion that does not produce high returns for its investors.

silver price

In the same context, global silver contracts rose 0.361 points, or 1.69%, to reach $ 21.683, compared with this morning’s opening price, Thursday, at $ 21.12.