Spot gold climbed to an all-time high of $4,378.69 per ounce, on track for a weekly gain of 8.5% — its largest rise since September 2008, when the collapse of Lehman Brothers sparked the global financial crisis.
Silver prices surged to a 45-year high, breaking through their four-decade ceiling to reach $54.38 per ounce.
The FTSE 100 is on course for its most significant one-day fall since April, plunging 147 points, or 1.57%, amid renewed global market turmoil.
If losses hold into the close, it would mark the worst session for London’s blue-chip index in more than six months, underscoring growing unease across global equities.
Wall Street Futures Fall as Market Weakness Deepens
Wall Street looks set for further losses when trading opens in New York, as futures point to a broad-based decline across major US indices.
S&P 500 futures are down 1.2%, while Nasdaq 100 futures have fallen 1.4%, signalling renewed pressure on technology stocks.
Dow Jones Industrial Average futures are also down 1%, with the blue-chip index’s 30 large-cap companies expected to open lower.
Smaller companies could fare even worse, with Russell 2000 futures — which track US small-cap stocks — sliding 2%, suggesting a deeper sell-off in the riskier end of the market.
The declines follow a volatile week marked by banking sector concerns, trade tensions, and a flight to safe-haven assets such as gold and silver.
