Exchange prices for gold and silver have hit historical records

New records have been set in the precious metals market: prices for gold and silver have surpassed $4,600 and $83 per troy ounce, respectively, for the first time, according to trading data reported by RIA Novosti.
As of 8:09 AM Moscow time, the February gold futures on the New York Comex exchange rose by $80.55 (1.79 percent), reaching $4,581.45 per troy ounce. During trading, the price of gold peaked at $4,612.4.

The March silver futures also showed an increase, rising by 5.27 percent to reach $83.522 per ounce. During trading, the price of silver set a new record, climbing to $83.88.

According to Bloomberg, last year, criticism from Donald Trump's administration towards the Federal Reserve undermined confidence in the dollar. The market is currently reacting to recent statements by Fed Chairman Jerome Powell regarding potential criminal charges from the U.S. Department of Justice. A decline in the dollar's value may contribute to rising gold prices.

As for silver, a supply shortage is expected in the market this year, primarily due to increased investment demand, according to information from BMI, a division of Fitch Solutions Inc.