Gold, Silver Prices Hit Record Highs Again

Silver futures shot up around 4.5%, topping $90 a troy ounce in recent trading. Earlier, they traded as high as $91.37, an intraday record.

Gold futures were up 1% at over $4,644 an ounce. Earlier, they also hit an intraday all-time high, topping $4,647.

Gold futures have risen more than 70% in the past year; silver has nearly tripled in value. ANZ analysts said the market backdrop should continue to boost demand for gold, pointing to geopolitical tensions, easing monetary policy and concerns about both Federal Reserve independence and the U.S. debt burden.