Spot gold prices hit a new all-time high from the first month of the new year

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A remarkable achievement has been made in the spot gold market. According to Odaily, the spot gold price has surpassed $4,700 per ounce for the first time in history, continuing a sharp upward trend since the beginning of this year. In just the first month of the new year, it recorded a high increase of 8.8%, demonstrating how volatile the market is.

$4,700 per ounce, a new milestone in the gold market

In January, spot gold started at around $4,320 per ounce and rose to over $4,700. With a price increase of more than $380, this trend is clearly reflected in Jin10’s real-time market data. Especially, the fact that spot gold has reached this high for the first time in history has attracted significant investor attention.

Background of the bullish trend in the spot gold market

The surge in spot gold at the beginning of this year is not just a temporary fluctuation. Multiple factors such as global economic uncertainty, expectations of monetary policy, and risk asset aversion have collectively increased the appeal of spot gold. As investors turn to gold as a safe haven, trading volume in spot gold is also on the rise.

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