Gold and silver reach fresh highs for second day running
Gold and silver have rebounded this year and prices continue to rise.
Gold futures for February delivery rose 0.8% to $4,505.7 per ounce, after hitting a record $4,530.80 per ounce. Spot gold increased by 1.04 percent to $4,491.68 per ounce.
Meanwhile silver futures It was seen at $71.71 per ounce, up 4.59% in March. spot silver It was last traded at $71.22, up 3.19%. Spot silver surpassed $70 for the first time early in the session.
Metals have soared this year, breaking consecutive price records, as sentiment for risky assets has been shaken by fears of an AI bubble and uncertainty about the next Federal Reserve chairman in 2026.
Gold is often seen as a safe bet in times of economic or geopolitical uncertainty and is often used as a hedging tool.
Futures prices represent a new high for the metals, building on Monday’s record-breaking moves.
David Neuhauser, CIO of Livermore Partners, told CNBC’s “Access Middle East” that gold has more room to move and could potentially reach $6,000 per ounce.
“I think all metals are going up massively because they’re underowned and there’s a risk that global debt will explode around the world and so you need to have assets to defend against that depreciation. That’s what you’re seeing right now. It’s loud and clear, but it could continue for a while,” Neuhauser said.
