Gold prices snap record highs

Gold prices climbed on Friday to hit a historic peak as central bank purchases amid geopolitical tensions sustained the momentum for the yellow metal.

Spot gold was up 0.9% at $2,395.56 per ounce, as of 0740 GMT. Bullion hit a record high of 2,398.49 earlier in the session. U.S. gold futures gained 1.7% to $2,413.00.

Spot silver rose 2% to $29.04 per ounce, hitting its highest levels since Feb 2021. Platinum rose 2.1% to $999.80 and palladium gained 1.8% to $1,065.00. All three were on track for a weekly gain.