The price of gold on global exchanges has reached a new all-time high. On Wednesday morning, December gold futures on the New York Comex exchange rose to 4204,12 USD per troy ounce, up 0,98% from the previous close. During the trading session, quotes reached a high of 4209,65 USD per ounce, according to investfuture.ru.

As of 7:14 AM Moscow time, the price had risen to 40,72, setting a new all-time high for the precious metal on the exchange.

Silver also showed positive momentum. December silver futures rose 1,12%, reaching 51,19 USD per ounce.

Rising precious metal prices are traditionally associated with increased demand for safe haven assets amid economic uncertainty.