Gold, Silver Soar to Record Highs Amid Geopolitical Tensions, Weak Dollar

• Gold hit a record above $4,530/ounce, silver crossed $75/ounce, driven by geopolitical tensions and a weak US dollar.
• Geopolitical factors include US actions in Venezuela and a strike in Nigeria, boosting precious metals' haven appeal.
• The Bloomberg Dollar Spot Index saw its biggest weekly drop since June, making dollar-denominated metals cheaper.
• Heavy ETF buying, central bank purchases, and US Federal Reserve rate cuts fueled the rally.
• Gold gained 70% and silver over 150% this year, on track for best annual performance since 1979.

Why It Matters: Geopolitical tensions, a weak dollar, and strong investment demand propelled gold and silver to record highs.