Gold smashes past $4,400, silver hits record as rate cut bets fuel rally
Dec 22 (Reuters) - Gold crossed the $4,400-per-ounce level for the first time on Monday, propelled by expectations of U.S. rate cuts and continued safe-haven buying, while silver followed suit, soaring to a new record high.Spot gold climbed 2% to hit a new record high at $4,426.66 per ounce as of 1313 GMT. U.S. gold futures for February delivery rose 1.5% to $4,451.60 per ounce.Bullion has surged nearly 68% this year, marking its biggest annual rise since 1979, fuelled by strong central bank buying, safe-haven flows, and lower interest rates.