Gold and silver prices hitting record highs in Asian Trading

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Amidst geopolitical instability, increased safe-haven demand has pushed gold and silver prices to new record highs during Asian trading hours.

Spot gold broke through $4,690 per ounce in the Asian market, surging by over $94, an increase of 2 percent. Spot silver rose more than 4 percent, surpassing $94 per ounce.

Analysts believe the unsettled geopolitical situation, coupled with declining market confidence in the US dollar, will continue to drive capital into the precious metals market.