Gold, Silver hit fresh record highs
Gold and silver prices surged to new record highs on Monday, driven by strong safe-haven demand amid renewed trade tensions between the United States and China, as well as expectations that the US Federal Reserve will cut interest rates.
Spot gold rose 0.7% to $4,044.29 per ounce, while US gold futures for December delivery advanced 1.6% to $4,062.50.
Silver climbed 2% in spot trading to a record $51.52 per ounce, extending its recent rally.
Gold, which yields no interest, has gained 54% so far this year, supported by anticipation of lower borrowing costs and increased geopolitical uncertainty.
Among other precious metals, platinum rose 2.6% to $1,628.80 per ounce, while palladium gained 2.6% to $1,442.06.
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