Investors are telling a story in the latest adaptation of Treasure Island, where one doesn't have to be a buccaneer to turn a profit. The quest for precious metals has led to new heights in 2024, with gold nearly reaching $2,

Gold prices surged to a new record high for the third consecutive day, driven by strong buying from jewelers. Silver also saw a significant jump on increased demand from industrial units and coin makers.

Silver rose to its highest level in nearly 12 years on Thursday, riding the coattails of gold's rally to record peaks as interest rate cuts by major central banks fuelled investment interest in precious metals.

Gold prices hit record highs, but silver outpaces gains. Both benefit from Fed's rate stance and safe-haven status.

Silver hit the highest since 2012 as expectations for additional interest-rate cuts from the Federal Reserve help to boost precious metals.