NEW YORK, Dec. 26 (Agencies) – Gold surged to a fresh all-time high on Friday, with futures prices briefly topping $4,561.4 per troy ounce during trading on the New York Comex exchange.
As of 05:49 GMT, February gold futures were up 0.86% from the prior close, gaining $38.6 to settle at $4,541 per ounce. The rally marked yet another record-setting session for the precious metal, which has climbed more than 70% this year amid global economic uncertainty.
Silver also joined the rally, with March futures soaring 4.83% to $75.145 per ounce. Earlier in the session, silver prices touched a record $72.485, underscoring strong investor demand across the precious metals sector.
Analysts attribute the surge to heightened safe-haven buying, expectations of U.S. interest rate cuts, and continued geopolitical tensions. Central bank purchases and strong inflows into gold-backed exchange-traded funds have further fueled the rally.
The latest milestone caps a historic year for gold, which began 2025 near $2,640 per ounce and has steadily advanced past successive psychological thresholds, cementing its role as a key hedge against volatility.