Gold and silver prices soared to unprecedented heights on Wednesday, fueled by anticipation of interest rate cuts and escalating geopolitical tensions. Spot gold surged 1.3% to $2,414.29 per ounce, while silver skyrocketed 2.8% to $29.80 per ounce—levels not seen in over a decade. Analysts attribute this surge to dovish signals from central banks, making precious metals more attractive than bonds or savings accounts. Additionally, global risks such as the Ukraine war and Middle East conflicts are driving investors towards these safe-haven assets. Central banks worldwide are also purchasing gold to safeguard against currency fluctuations and economic instability. Silvers dual role as a safe haven and industrial metal, driven by booming demand for solar panels and electric vehicles, further contributes to its price hike. Despite short-term price fluctuations, these metals are expected to maintain elevated prices amidst ongoing macro trends and global events.

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