Gold price tops $5,200 an ounce for the first time

Gold prices climbed above $5,200 per troy ounce for the first time on record, setting a new all-time high.

February-delivery gold futures on the Comex exchange surged to fresh peaks. According to trading data, gold rose 2.41% to $5,205.1 per ounce by 05:40 Baku time.

By 05:45, gains accelerated, pushing prices up 2.64% to $5,216.7 an ounce. Another record was reached at 06:32, when gold hit $5,224.2 per ounce.

N.Tebrizli