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Gold, silver extend record-breaking rallies as uncertainty persists
Gold surged to a record high on Wednesday, with silver rising in its wake, as geopolitical and economic uncertainties drove investors toward safe-haven assets while expectations of Federal Reserve rate cuts added further momentum. Spot gold was 0.9% higher at $4,628.68 per ounce by 01:38 p.m. ET (1838 GMT), after earlier hitting a record high of $4,641.40. U.S. gold futures for February delivery settled 0.8% higher at $4,635.70. "All roads are leading to gold and silver," said Alex Ebkarian, COO at Allegiance Gold, citing demand from diverse buyers and noting the market is in a structural bull phase. Gold, which does ... (full story)
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