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Gold hits record high on safe-haven rush; silver follows suit

international gold rate

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, October 13, 2025. (REUTERS/File)

Gold prices climbed to a record high on Tuesday (October 14) as renewed US-China trade tensions exacerbated broader uncertainty, bolstering safe-haven demand, while the prospects of US rate cuts lent support, with silver also reaching an all-time peak.

 

Spot gold was up 0.4% at $4,124.79 per ounce, as of 0029 GMT, after having hit an all-time high of $4,131.52 earlier in the session.

 

Safe-haven gold has surged 57% year-to-date, surpassing the crucial $4,100 milestone for the first time on Monday (October 13), bolstered by geopolitical and economic uncertainties, rate-cut expectations, strong central bank buying, and strong ETF inflows.

 

Spot silver was up 0.3% at $52.49 per ounce, after hitting $52.70 earlier in the day, supported by factors driving gold and tightening in the spot market.

 

Bank of America and Societe Generale analysts now forecast gold to hit $5,000 by 2026, while Standard Chartered raised its 2026 average forecast to $4,488.