Gold (GCG26) prices overnight climbed to a fresh record high of $4,530.80 an ounce, basis February Comex futures. March Comex silver (SIH26) futures also hit a record high of $70.155 an ounce overnight. Gold marked its 50th record-breaking session this year, as both metals are being driven higher by safe-haven demand amid escalating U.S.-Venezuela tensions, as well as expectations of more U.S. interest rate cuts later next year. So far this year, gold has soared 70%, on track for its strongest annual gain since 1979. Silver is up by over 130% this year.
