Gold rises to $4,502.75 per ounce, and silver rises to $75.14

Gold and silver prices recorded new record levels today, Friday, driven by demand for safe havens and increasing expectations that US interest rates will be cut again next year. Platinum and palladium prices also witnessed a noticeable rise.

Gold rose in instant transactions by 0.5% to $4,502.75 per ounce by 02:25 GMT, after recording a new record level at $4,530.60 earlier in the session.

US gold futures for February delivery rose 0.7% to a new record high of $4,533.60 per ounce.

Silver jumped 3.4% in instant transactions to $74.35 per ounce, before recording its highest level ever at $75.14.

Platinum also jumped 8% and reached an unprecedented level of 2413.62 per ounce by 03:04 GMT.

Palladium rose 4.4% to $1,757.25 an ounce.