Gold and Silver Prices Hit Record Highs Amid U.S. Interest Rate Cut Expectations

Precious metal prices surged to unprecedented levels on Friday, driven by increasing global demand for safe-haven assets amid rising expectations of a potential U.S. interest rate cut next year.

The price of gold reached a record high of $4,530.60 per ounce at one point during the session, before stabilizing at $4,512.35.

Meanwhile, silver saw a significant increase, hitting $74.35 per ounce and later reaching an all-time high of $75.14, reflecting robust demand for the metal in global markets.

These gains underscore the ongoing trend of investors seeking safe assets amid economic uncertainty, highlighting the role of gold and silver as key tools for hedging against market volatility.