Gold price surpasses $4,900 as record rally carries on

Gold prices broke past the $4,900-an-ounce level for another record high on Thursday after new US economic data raised the chances of Federal Reserve cutting interest rates.

Spot gold rose nearly 2% to set a fresh all-time high of $4,923.63 per ounce, extending its record-breaking rally this year. Silver followed through with a 3% rise of its own, notching a new peak of $96.57 per ounce.

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Precious metals started the week on a strong note...