"Forget all the records so far!"

Gold prices continued their record streak due to the upcoming U.S. elections, expectations of interest rate cuts, and increasing tensions in the Middle East.

On Friday, the ounce of gold surpassed $2,700 for the first time, reaching $2,731 on the first trading day of the week, setting a new record. If it finishes 2024 at these levels, gold will have shown its best annual performance in the last 45 years with an increase of approximately 31%.

The gram of gold also saw 3,000 Turkish Liras for the first time. A quarter of gold changed hands at the level of 4,918 Turkish Liras.

Meanwhile, recently, Bank of America emphasized that investors and central banks should increase their interest in gold. Analysts reiterated their forecasts that the ounce price of gold will reach $3,000.

A SURPRISE FROM SILVER

Additionally, with the escalation of geopolitical tensions in the Middle East, the ounce price of silver tested $34.11, the highest level since November 2012.