Gold and silver continued their extraordinary price rallies on Wednesday as ongoing global economic and geopolitical instability pushed more investors into safe-haven assets. 

Spot gold rose about 0.7% to roughly $4,620 an ounce, after earlier reaching an all-time high above $4,640, while US gold futures for February delivery climbed about 0.6% to around $4,626. Spot silver jumped more than 5%, trading near $91.80 an ounce after briefly hitting a record high above $92. 

Silver’s surge reflects persistent investor demand amid risk aversion and strong momentum following last year’s historic performance.

Market participants have been driven toward precious metals by a mix of economic uncertainty, expectations of future Federal Reserve rate cuts, and heightened geopolitical risks that have not yet been fully priced into other asset classes. 

Analysts note that gold’s appeal is particularly strong during periods of low interest rates and heightened uncertainty, since it does not pay interest but historically protects wealth during volatile periods. Some forecasts even put silver’s near-term targets well above current levels, reflecting sustained bullish sentiment in the first quarter.

Other precious metals also advanced, with spot platinum rising nearly 3% and palladium up about 0.4%. 

The broad rally in metals shows that investors are increasingly moving capital into shelter assets at a time when traditional markets face conflicting signals from economic data and geopolitical developments.

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