Jonathan Raa/NurPhoto via Getty Images Gold, silver, and platinum soared to record highs on Friday. The value of these precious metals, considered “safe-haven assets,” have surged amid growing geopolitical tensions and anticipation of a Federal Reserve rate cut. Silver jumped 7 percent to cross $77 per ounce for the first time on Friday, while gold rose 1.6 percent to rise above $4,540 per ounce, having earlier hit a record of $4,533 per ounce. Platinum surged 8.7 percent to $2,411 per ounce, after setting a record earlier. Palladium climbed nearly 10 percent. The gains extend a yearslong rally in precious metals, with silver climbing 167 percent year-to-date due to supply deficits, its classification as a U.S. critical mineral, and strong investment demand, according to Reuters . The record high also comes after President Donald Trump announced Thursday evening that the U.S. had carried out airstrikes against ISIS militants in Nigeria, and as he escalates pressure on Venezuela’s regime. “Expectations ⁠for further Fed easing in 2026, a weak dollar, and heightened geopolitical tensions are driving volatility in thin markets,” Peter Grant, vice president and senior metals strategist at Zaner Metals, told Reuters . With Trump poised to appoint a dovish Fed chair in May 2026, markets are anticipating two rate cuts in the new year. Read it at Reuters Read more at The Daily Beast.