Gold surged to a new all-time high above $4,100/oz, while silver hit its first record since 1980, as escalating U.S.-China trade tensions and expectations of further U.S. interest rate cuts fueled safe-haven demand.

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Gold and silver surged to new record highs Thursday as investors fled to safe-haven assets amid banking worries, U.S.-China trade tensions, and expectations of more Fed rate cuts.

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Texas has passed a new law, expected to take effect in May 2027, recognizing gold and silver as legal tender for everyday financial transactions within the state based on the state comptroller's determined value at the time.

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