Both gold and silver prices soared on Monday to new record highs as US rate cuts, coupled with safe-haven demand, buoyed sentiments. The February gold contract on COMEX hit a fresh record high of $4,452.85 per ounce earlier on Monday. The March silver contract also hit a new high of $69.515 per ounce. At the time of writing, the gold contract was at $4,443.40 per ounce, up 1.3%, while silver was up 2.2% at $68.972 an ounce. Gold has entered a phase of price discovery, decisively moving beyond its former all-time high of approximately $4,381. It has officially transitioned out of its previous consolidation phase and ... (full story)