Gold prices surged to a record high of $4,500 (over ₹4,03,000) per ounce on Tuesday. The precious metal, which has hit 50 all-time highs this year, has risen 70% year-to-date. Meanwhile, silver prices also hit new all-time high at $69.98/ounce, outpacing gold with 141% year-to-date gain. Market analysts have attributed the high to rising geopolitical tensions, particularly in Venezuela.