Gold and silver futures surged to new historic highs on Tuesday, driven by heightened safe-haven demand as geopolitical tensions intensified.
On the New York Mercantile Exchange (NYMEX), the most-active February gold futures contract soared past 4,760 U.S. dollars per ounce during the session, while March silver futures climbed above 95 U.S. dollars per ounce, with both metals sustaining strong gains by market close, setting fresh all-time peaks.
Analysts attributed the rally to escalating geopolitical crises, which spurred investors to seek refuge in precious metals.
The sustained upward momentum reflects broad market concerns over global instability and its potential economic impact, analysts said.
Gold, silver futures hit record highs on safe-haven demand
Gold, silver futures hit record highs on safe-haven demand
The fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, concluded on Wednesday.
Xi Jinping and other Party and state leaders attended the closing meeting at the Great Hall of the People in Beijing.
A resolution on the work report of the Standing Committee of the CPPCC National Committee, a resolution on the report on how the proposals from political advisors have been handled since the previous annual session, a report on the examination of new proposals, and a political resolution of the fourth session of the 14th CPPCC National Committee were approved at the meeting.
Wang Huning, chairman of the CPPCC National Committee, presided over the meeting and delivered a speech.
The CPPCC is an integral part of China's system of multiparty cooperation and political consultation under the leadership of the Communist Party of China.
The annual session of the 14th CPPCC National Committee opened on March 4 this year.
China's top political advisory body concludes annual session
China's top political advisory body concludes annual session
