Silver value increases to new record high as gold continues to climb

The price of silver has risen above $100 US an ounce for the first time, as investors turn to so-called safe-haven assets during the current geopolitical turmoil.

The metal's value has increased more than 200 per cent in the past year, driven by persistent supply shortages and challenges in scaling up the refining process.

Gold has also reached another record, reaching $4,967 US per ounce.