Dhaka, Dec. 22 -- Gold jumped past the $4,400-per-ounce level for the first time on Monday, riding on growing expectations of further US rate cuts and strong safe-haven demand, with silver also joining the rally to hit an all-time high.

Spot gold was up 1.4 per cent at $4,397.16 per ounce, as of 0502 GMT, after breaking the $4,400 barrier to hit a record high of $4,400.29 earlier in the day. Spot silver climbed 3.3% to hit a historic high of $69.44.

US gold futures for February delivery rose 0.98 per cent to $4,430.30 per ounce, reports Reuters.

Bullion has gained 67 per cent so far this year, shattering multiple records and breaching the $3,000 and $4,000 per-ounce milestones for the first time. It is poised for its biggest annual gai...