Gold and Silver Hit All-Time Highs as Geopolitical Tensions Rise

Gold and silver soared to all-time highs, as escalating geopolitical tensions and bets on further US rate cuts added momentum to the best annual performance in more than four decades.

Bullion climbed as much as 2.4% to surpass the previous record of $4,381 an ounce set in October, while silver rallied as much as 3.4%, closing in on $70 an ounce. The move extends a blistering rally that has put both metals firmly on course for their strongest annual performance since 1979.