Gold prices extended their 2025 rally on Tuesday, breaking through $3,400 an ounce for the first time and briefly trading above $3,415. The move lifted the SPDR Gold Shares exchange-traded fund to a fresh intraday record and put the metal on track for its second-highest close ever. The strength in bullion spilled into equities tied to the sector. The VanEck Gold Miners ETF climbed to its highest level since October 2012, widening its 10-year performance gap over the bullion-tracking GLD to about 126 percentage points. Individual producers including Agnico Eagle, Barrick and Newmont also notched new 52-week highs. Silver joined the advance, surpassing $39 an ounce and touching its strongest price in more than a decade. The broad upswing in precious metals comes as investors seek inflation protection and remain wary of equity-market volatility, sparking heavy options activity in both gold- and silver-linked funds.