Gold prices hit a new record high, trading above $4,400 (£3,275) an ounce for the first time in 2025. Analysts say this rise is due to expectations that the US central bank will cut interest rates next year. The price of gold began the year at $2,600 an ounce but climbed sharply amid geopolitical tensions, Trump tariffs, and the search for safe investments. Other precious metals like silver and platinum have also seen price jumps. Silver hit a record high of $69.44 an ounce, up 138% this year. Platinum reached a 17-year high, boosted by strong demand and supply limits. Adrian Ash, director of research at BullionVault, said, "The gold price has risen more than 68% this year, the highest increase since 1979." He added, "2025 has seen 'slow-burning trends around interest rates, around war and trade tensions' which pushed prices up." Ash also noted the impact of President Trump's policies: "You've got the trade war, the attacks on the US Federal Reserve and geopolitical tensions, all provocations from Trump." Low expected interest rates mean lower returns on bonds, prompting investors to choose commodities like gold and silver for better returns and portfolio safety. Analysts expect the US will cut interest rates twice in 2026. Gold demand is also rising as central banks worldwide buy more gold to guard against economic uncertainty and reduce reliance on the US dollar, according to Goldman Sachs. Financial planner Anita Wright said, "Gold tends to respond first as the primary monetary metal when confidence in assets and policy starts to wobble." A weaker US dollar has also helped boost gold's appeal by making it cheaper for buyers outside the US. On a related note, oil prices rose slightly on Monday. Brent crude climbed 53 cents to $60.99 a barrel, and US oil was up 1.6% to $57.40. This follows a US move to block sanctioned oil tankers, but oil prices overall are expected to fall below their levels at the start of 2025.