New Delhi, Jan. 27 -- It seems there is no stopping the rally in precious metals, as both silver and gold extended their record-breaking run into Tuesday's trade, with investors continuing to favour safe-haven assets amid escalating trade and geopolitical tensions.

Concerns have mounted after US President Donald Trump threatened to raise tariffs on South Korean goods from 15% to 25%. He cited a delay in South Korea's legislature approving a trade deal the nation had reached with the US last summer.

The precious metals have also drawn support amid worries about another US government shutdown, after Democratic leaders threatened to block a $1.2 trillion funding package if it includes additional allocations for Homeland Security, according...