Traders were on edge going into Monday's session after the Chicago Mercantile Exchange raised margin requirements on silver futures, forcing highly leveraged traders to either add

Gold prices soared above $4,400 on Monday to reach a new all-time high, as analysts pointed to rising geopolitical tensions and softer monetary policy as key drivers of the surge.

Gold was steady on Wednesday but remained on track for its strongest annual gain in over four decades, while other precious metals fell sharply as investors booked profits after a strong, record-setting rally.

Spot gold prices hit an all-time high of around $4,560 per troy ounce last Friday before sliding more than 4% on Monday, as exchange operator CME Group raised its margin requirements for precious metals contracts and investors booked profits. Gold rebounded on Tuesday, trading recently at around $4,400.

Silver and gold futures are falling sharply after the Chicago Mercantile Exchange, one of the world’s largest trading floors for commodities, required traders to put up more cash to invest in precious metals.

Israeli archaeologists discovered rare 1,400-year-old gold treasure at an ancient monastery site in Judean Desert, including Byzantine coins and an ornate ring.

More countries are buying directly from artisanal miners as trafficking robs them of tax revenues and foreign exchange

Gold and silver have seen a rollercoaster end to a year in which their prices are on track to record their biggest annual gains since 1979. The price of gold soared by more than 60% this year to hit a record high of more than $4,549 (£3,378) an ounce before slipping after Christmas to stand at about $4,350 on New Year's Eve.