# Fed

Gold Soars to Record Above $5,240 as Funds Halt Purchases; Silver, Miners and Exchanges Scramble to Manage Speculative Surge

Gold hit a record above $5,240 per ounce and silver spiked above $115 amid a weaker dollar, US political uncertainty and rising retail demand in China. Fund managers and exchanges have moved to curb flows and leverage — suspending subscriptions and raising futures margins — raising the risk of a volatile unwind.