On Tuesday, December 23, gold hit a record level, approaching the $4,500 per ounce mark. The weakness of Dollar and continuing geopolitical uncertainty have boosted demand for this safe haven metal, while silver continued to rise to a peak historical.

Spot gold rose 0.9% to $4,486.34 per ounce at 12:48 GMT, after reaching a record of $4,497.55 earlier in the session. Gold Futures Contracts American for delivery in February gained 1.1% to 4,518.90 dollars. “Expectations of an accommodative monetary policy from the Fed, the loss of market confidence in the dollar, geopolitical tensions and central bank purchases explain this increase.

The cash price increased by 0.9 % to reach $69.63 per ounce, after touching a record high of 69.98 dollars earlier in the day. White metal shows an increase of 141% since the beginning of the year, driven by supply shortages, the industrial demand and capital inflows.

According to Ahmad Assiri, research strategist at Pepperstone, “Gold and silver continue to attract buyers. Ce behavior suggests that the $4,500 and $70 levels are considered less as absolute ceilings than as points of reference within current trends, which maintains both metals solidly supported for the time being and during the holidays.”

Spot platinum jumped 2.7% for reach 2,177.05 USD, its highest level in over 17 years, while palladium rose by 1.7% to reach a high in three years at 1 788.33 USD, depending on the strength of gold and silver.