Gold, silver prices surge to record highs on Monday

The international market prices of gold and silver both reached record highs on Monday, driven by sustained safe-haven demand in global markets.

During the Asian trading session on Monday, the most actively traded February gold futures on the New York Mercantile Exchange surged more than 2 percent, topping 4,612 U.S. dollars per ounce to set a new intraday high. London spot gold also climbed above the 4,600-dollar mark per ounce, with gains exceeding 2 percent during the session.

March silver futures on the New York Mercantile Exchange rose more than 5 percent intraday, approaching 84 U.S. dollars per ounce. London spot silver jumped past 84 dollars per ounce, marking an intraday record high.

Gold, silver prices surge to record highs on Monday

Gold, silver prices surge to record highs on Monday

Gold, silver prices surge to record highs on Monday

Gold, silver prices surge to record highs on Monday

Oil prices declined on Tuesday.

The West Texas Intermediate (WTI) for December delivery lost 37 cents, or 0.38 percent, to settle at 96.09 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery dropped 1.17 dollars, or 1.12 percent, to settle at 103.6 dollars a barrel on the London ICE Futures Exchange.

Crude futures settle lower