Gold broke through $4,100 per ounce for the first time on Monday, hitting another record high on renewed US-China trade tensions and expectations of interest rate cuts, while silver also rose to an all-time high.

Spot gold was up 2.2% to $4,106.48 per ounce, in afternoon trading, after hitting a record $4,116.77.

US gold futures for December settled 3.3% higher at $4,133.

Gold has climbed 56% this year and scaled the $4,000 milestone for the first time last week, driven by factors including geopolitical and economic uncertainties, expectations of interest rate cuts and robust central bank buying.

Gold has climbed 56% this year and scaled the $4,000 milestone for the first time last week REUTERS

“Gold could easily continue its upward momentum. We could see prices north of $5,000 by

See Full Page