<div id="readability-page-1"><div><div><div>Key points:<ul><li>Silver reaches record $75.62/oz; gold surges to all-time high of $4,533.14/oz</li><li>All precious metals set for weekly gains</li><li>Silver up 161% YTD versus gold's 72% gain, platinum jumps 167%</li><li>Palladium gains nearly 10%</li></ul></div>By Sarah Qureshi Silver breached the $75 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of U.S. Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.Spot silver jumped 4.5% to $75.20 per ounce, as of 10:06 a.m. ET (1506 GMT), after hitting an all-time high of $75.62, marking a 161% year-to-date surge driven by supply deficits, its designation as a U.S. critical mineral, and strong investment inflows.Spot gold was up 1.1% at $4,526.92 per ounce, after hitting a record $4,533.14 earlier. U.S. gold futures for February delivery added 1.3% to $4,559. <figure><figcaption>Thomson ReutersSpot silver, gold, platinum record run</figcaption></figure>&#34;Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,&#34; said Peter Grant, vice president and senior metals strategist at Zaner Metals.Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that U.S. President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.The U.S. dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers. On the geopolitical front, the U.S. carried out airstrikes against Islamic State militants in northwest Nigeria, Trump said on Thursday.&#34;$77/oz and then $80 in silver is within reach by year-end. For gold, the next objective is $4,686.81, with $5,000 likely in the first half of next year,&#34; Grant added. Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week's five-year highs. Elsewhere, spot platinum rose 8.7% to $2,411.46 per ounce, having earlier hit a record high of $2,448.25, while palladium climbed nearly 10% to $1,850.76.All precious metals are headed for weekly gains, with platinum recording its strongest weekly rise on record.</div></div></div>

Silver reached a record high of $75.62 per ounce, while gold and platinum also hit all-time highs, driven by expectations of U.S. Federal Reserve rate cuts and geopolitical tensions. Silver surged 161% year-to-date, gold 72%, and platinum 167%. The U.S. dollar's decline enhanced gold's appeal, with further gains anticipated. Geopolitical events and potential Fed policy changes are influencing market volatility.

Silver crosses $75 mark while gold, platinum stretch record highs