Gold headed for its biggest weekly gain in five years, surging along with silver as fears about credit quality in the US and tensions with China add fuel to this year’s flight to safety.
Bullion hit a fresh all-time high near $4,380 an ounce on Friday, extending this week’s breakneck rally to roughly 8%, the most since March 2020. The gain of more than $300 this week is the biggest on record in dollar terms. Silver also hit new highs.
