Post by : Bianca Qureshi
Gold and silver prices surged to record levels on Monday, showing strong momentum in the precious metals market.
Spot gold rose 1.6 percent to US$4,670.01 per ounce by 01:10 GMT, after touching a new all-time high of US$4,689.39 earlier in the session.
US gold futures for February delivery also moved higher, gaining 1.8 percent to trade at US$4,677 per ounce.
Silver prices recorded an even sharper rise. Spot silver jumped 4.4 percent to US$93.85 per ounce, after hitting a record high of US$94.08.
Other precious metals also showed gains. Spot platinum increased 1.9 percent to US$2,373.08 per ounce, while palladium edged up 0.5 percent to US$1,809 per ounce.
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