Gold and silver reach new highs for the second day in a row

Gold and silver have rallied this year – and prices continue to rise.

Gold Futures for February deliveries, the increase was $4,505.7, after hitting a record $4,530.80 an ounce. Spot gold was up 1.04% at $4,491.68 an ounce.

In the meantime silver futures for March advanced 4.59% and was last seen at $71.71 per ounce, while silver stain was last trading at $71.22, up 3.19%. Spot silver crossed $70 for the first time earlier in the session.

Metals have soared this year, breaking back-to-back price records as sentiment shook toward riskier assets, amid fears of an AI bubble and uncertainty over the next Federal Reserve chair in 2026.

Gold is generally considered a safe bet in times of economic or geopolitical uncertainty and is often used as a hedge.

Futures prices mark new highs for metals, tops Monday’s record moves.

David Neuhauser, CIO at Livermore Partners, told CNBC “Access the Middle East” that gold has more room to run – potentially hitting $6,000 an ounce.

“I think all metals, for the most part, are up because they have been underowned and there is additional risk that global debt around the world is going to explode, and therefore you need to own assets that will protect you against that depreciation. That’s what you’re seeing now. It’s loud and clear, but this could continue for some time to come,” Neuhauser said.