Gold and silver prices soared to new highs on Monday.
Gold was last seen at a record $4,445.8 per ounce while spot gold was last trading at $4,414.99. Prices are up nearly 70% since the start of the year.
The metal has soared this year, smashing consecutive price records as risk assets lost ground. Gold is typically viewed as a safe haven asset in times of economic or geopolitical turbulence.
Silver typically tracks gold, and was last seen at a record $68.96 per ounce while spot silver was last trading at $68.98. Prices have gained 128% since the start of the year.
While markets received their much-expected interest rate cut by the Fed on Dec. 10, and optimism returned to AI stocks in the previous trading session, economic speculation for next year likely put global investors back on the defensive as they seek to balance their portfolios.
