New York: Silver prices surged above $100 per ounce for the first time in history today, while gold reached a fresh record high, nearing the $5,000-per-ounce level, as investors flocked to safe-haven assets amid escalating geopolitical tensions and expectations of a future cut in US interest rates.
Spot silver jumped 4.5 percent to $100.49 per ounce. The metal recorded gains of more than 200 percent over the past year, supported by continued supply shortages and challenges in expanding processing capacity.
Gold rose 0.8 percent in spot trading to $4,976.49 per ounce, after touching a record high of $4,988.17 earlier in the session. US gold futures for February delivery climbed 1.3 percent to $4,978.60 per ounce.
Market expectations indicate that the US Federal Reserve is likely to keep interest rates unchanged at its upcoming meeting on 27–28 January, while investors continue to anticipate two interest rate cuts during the second half of 2026.
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