Gold prices hit a new record high driven by a weaker US dollar.

The price of gold has risen to a new historical high, supported by a weakening US dollar, with previous US data showing resilience in the job market and consumer spending. Gold prices broke through $4955 per ounce in early trading, with a potential weekly increase of nearly 8%. The US dollar weakened on Thursday, with data showing that economic growth in the third quarter was slightly higher than previously reported preliminary data. In addition, the increase in initial jobless claims was lower than expected. Gold prices rose by 0.4% to $4955.14 per ounce. Silver prices rose by 0.6% to $96.80 per ounce, also hitting a new historical high. Platinum and palladium prices also rose.