ByConor Murray,

Forbes Staff.

Gold and silver prices surged early Thursday morning, with silver toppling the $120 mark and gold nearing an all-time high of $5,600, up more than $200 from just one day ago as tensions between the United States and Iran mount and the dollar weakens.

The price of gold is about $5,535.10 as of 9:30 a.m. EST, up more than 4.3% today but slightly down from an all-time high of $5,586.20 earlier this morning.

The price of silver is $121.10 as of 9:30 a.m., up nearly 7% today and near the record high of $121.79 the metal hit earlier in the day.