Singapore, Jan. 29 (BNA): Gold marched ahead on ​Thursday, hovering just shy of $5,600 an ounce as investors rushed into safe havens, while silver vaulted past $120.

Spot gold shot up 3% to $5,560.07 an ounce by 0557 GMT, after hitting a record $5,594.82 earlier in the day. The metal has hit record-highs for nine straight sessions, Reuters reported.

Gold has ‍already gained more than 27% this year, following a 64% jump in 2025.

Elsewhere, spot silver was up 1.4% at $118.25 an ounce after hitting a record high of $120.45 earlier.

Demand from investors looking for cheaper alternatives to gold, along with supply shortages and momentum buying, helped the white ​metal, which has already jumped more than 60% thus far in 2026.

Spot ‍platinum climbed 2.8% to $2,770.49 an ounce, after hitting a record high of $2,918.80 on Monday, while palladium rose 1.6% to $2,107.37.

H.K, s.a