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Silver hits record high above $100/oz as gold closes in on $5,000 milestone
Silver prices rose above $100 an ounce for the first time ever on Friday, while gold hit another record en route to $5,000/oz as investors pile into safe-haven assets amid geopolitical turmoil and on expectations for U.S. interest rate cuts.
Spot silver jumped 4.5% to $100.49 an ounce.
“Silver should continue to benefit from many of the same forces supporting gold investment demand,” said Philip Newman, a director at Metals Focus.
“Additional support will come from ongoing tariff concerns and still low physical liquidity in the London market.”
The metal has surged more than 200% in the past year, also driven by ongoing challenges in scaling up refining of the metal and a persistent supply shortage in the market.
“Traders pushed steadily for and achieved the milestone $100 print; investors will wait to see if it can sustain through the close or will there be profit-taking from recent speculators,” said Tai Wong, an independent metals trader.
Spot gold was 0.8% higher at $4,976.49 an ounce, after touching a record of $4,988.17 earlier. U.S. gold futures for February delivery added 1.3% to $4,978.60.
https://www.cnbc.com/2026/01/23/gold-prices-ease-on-profit-taking-after-nearing-5000-mark.html