December gold futures have reached a new all-time high at COMEX, a division of the New York Mercantile Exchange (NYMEX), rising to $4,200 per troy ounce, reports Kommersant.

According to this trading platform data, the price of this precious metal increased to $4,205.1 per ounce, showing a 0.7% gain.

On Tuesday night, gold futures had already reached a new record high of $4,150.

According to Financial Times, this rise in gold prices is partly driven by inflows into gold exchange-traded funds (ETFs). In September, global investors had invested $15.5 billion in ETFs.

Silver futures also had reached a record high Tuesday night, climbing to $51 per ounce.