Singapore, January 12 (QNA) - Gold prices surpassed $4,600 per ounce for the first time Monday, while silver also jumped to a record high, supported by geopolitical and economic uncertainty and growing expectations of a US interest rate cut.

Spot gold rose by about 1.5 percent to $4,478.79 per ounce, having earlier hit a new record high of $4,600.33.
US gold futures for February delivery also climbed 2 percent to $4,591.10.

Gold prices could rise to $5,000 per ounce in the first half of 2026 due to increased geopolitical risks and debt, according to HSBC.

Silver rose 4.4 percent in spot trading to $83.50 an ounce, after hitting a record high of $83.96 earlier in the day.

Platinum gained 2.9 percent in spot trading to $2,338.54 an ounce, after reaching a record high of $2,478.50 on Dec. 29.

Palladium also climbed 4.2 percent to $1,892.18 an ounce. (QNA)