Gold Near $5,000, Silver Hits $100 on Strong Demand

Gold and silver prices remained near record highs on Thursday, supported by strong investor demand and global economic uncertainty.

Spot gold traded steady at $4,931.28 per ounce by 13:32 GMT, after reaching a record high of $4,967.03 earlier in the session. US gold futures for February delivery rose 0.4% to $4,934.20 per ounce.

Gold prices slightly eased earlier as some investors booked profits after the recent sharp rally.

Silver and platinum also reached all-time highs, with prices rising around 14% since the start of the year. Silver has gained 37% year-to-date, driven by strong buying momentum and market demand.

Platinum rose 1.5% to $2,667.47 per ounce after touching a record high of $2,684.43, bringing its yearly gains to 30%. Meanwhile, palladium fell 0.7% to $1,907.45 per ounce.

Analysts say continued buying by central banks and a shift away from the US dollar are key reasons behind the surge in gold prices. Investors are turning to precious metals as a safe haven amid global monetary policy risks and market volatility.