Gold tops $4,600 as silver reaches record highs amid safe-haven demand

Spot gold briefly rose above $4,600 per ounce and silver hit an all-time high as geopolitical tensions and growing bets on U.S. interest-rate cuts supported precious metals.

Gold and silver hit record levels on Monday, with spot gold briefly exceeding $4,600 per ounce and silver reaching an all-time high. Markets pointed to geopolitical tensions and growing investor expectations of U.S. interest-rate cuts as factors behind the moves. The dollar's retreat and softer yield expectations also supported gains in non-yielding metals. Key facts: - Spot gold rose to a record intraday peak above $4,600 per ounce before trading lower later in the session. - Spot silver reached an all-time high, trading around the low $80s per ounce after earlier gains. - Investors currently priced in expectations of multiple Federal Reserve rate cuts this year, which tends to favor non-yielding assets. - The dollar eased from recent strength and U.S. futures also showed stronger prices for bullion. Summary: The move lifted prices across several precious metals and was described by market participants as driven by safe-haven demand and rate-cut expectations. Undetermined at this time.