Gold and silver traded near all-time peaks on Friday, supported by fresh U.S. inflation data that fueled bets for Federal Reserve rate cuts.
Spot gold was near $4,320 an ounce, set for a second weekly gain. Silver hovered around $65.32, close to its recent record. The rally comes after a key U.S. price index rose at its slowest pace in over three years, boosting the appeal of non-yielding metals.
Market sentiment remains mixed, however. Traders see only a 25% chance of a cut in January, and Fed signals have been ambiguous. Geopolitical tensions and strong central bank demand continue to underpin prices.
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Both metals are heading for their best annual performance since 1979, with silver more than doubling and gold up about two-thirds this year. Platinum also hit a 17-year high this week.
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