Gold reached a record high near $4,500 per ounce, driven by a weaker dollar, geopolitical uncertainty, and expectations of dovish U.S. monetary policy.

Spot gold rose 0.72% to $4,477.45, while U.S. February gold futures hit $4,530.80 intraday.

Silver also surged to an all-time high above $70 per ounce, gaining 2.13% amid supply deficits, strong industrial demand, and investment inflows.

Investors continue to seek safe-haven metals as bullion prices climb—gold up over 70% and silver over 140% this year—amid global tensions and anticipated interest rate cuts, CNBC has reported.

Analysts say both metals are well-supported, with current levels serving as reference points rather than strict ceilings.