Gold surged past $4,600 an ounce for the first time on Monday, while silver also climbed to a record high, as investors flocked to safe-haven assets amid escalating geopolitical tensions and news of a criminal probe involving U.S. Federal Reserve Chair Jerome Powell.

Global gold demand rose by 3% year-on-year in the third quarter of this year, reaching record-high quarterly levels, the World Gold Council (WGC) reported on Thursday.

Silver (SI=F) surged to the highest in 13 years, powered by a technical breakout, as investors broaden demand for the safety of precious metals beyond gold.