Gold prices reached record highs during trading on Wednesday, January 21. February gold futures on the New York Mercantile Exchange (COMEX) exceeded 4800 USD per ounce for the first time in history, rising 1,82% to reach a high of 4852,60 USD, according to RBC.

Over the past two days, the price of the precious metal has risen by 5,6%. Investors traditionally view gold as a reliable means of protecting capital during geopolitical and economic upheavals.