Gold costs more than $4,400 for the first time

This is the first record since October, when the price of gold rose to just over $4,380 in a week-long rally before falling back below the $4,000 mark at times in the weeks.

With the increase on Monday, the price of gold is up 68 percent shortly before the end of the year. This makes the precious metal one of the most sought-after asset classes this year. It is also heading for its highest annual profit since 1979. At that time, the price of a troy ounce had risen by 127 percent. Silver was even more in demand than gold this year. The price of a troy ounce of silver reached another record high on Monday at just under $69.50.

At the beginning of the week, silver increased its annual profit by three percentage points to 140 percent. There are several reasons for the strong price gains for the two precious metals. For example, many investors flee to so-called “safe havens” in times of high political uncertainty. Precious metals are considered as such. In addition, many central banks increased their gold holdings over the course of the year.