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Gold hits all-time high of $4,400.29/0z

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Silver hits record high of $69.44/oz

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Platinum hits over 17-year high

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Palladium hits near three-year high

(Updates after gold crosses $4,400/oz mark)

By Sherin Elizabeth Varghese

Dec 22 (Reuters) - Gold jumped past the $4,400-per-ounce

level for the first time on Monday, riding on growing

expectations of further U.S. 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% ​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.

U.S. gold futures for February delivery rose 0.98%

to $4,430.30 per ounce.

Bullion has gained 67% 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 gain

since 1979.

Silver has surged 138% year-to-date, vastly ⁠outperforming

gold, underpinned by robust investment inflows ‍and persistent

supply ​constraints.

"With December usually producing positive returns for gold

and silver, seasonality is on their side," said StoneX senior

analyst Matt Simpson.

"Given that gold has already ‍risen 4% this month and we're

nearing the end of the year, bulls may want to tread with

caution as volumes are to deplete and odds of profit-taking are

also likely on the rise."

Spot gold may extend gains to $4,427 per ounce, as it

has broken a key resistance at $4,375, Reuters technical analyst

Wang Tao said.

Traditionally ​viewed as ‍a safe-haven asset, gold has been

supported by heightened geopolitical and trade tensions, steady

central bank buying and expectations of lower interest rates

next year.

A ​softer dollar has provided an additional tailwind by

making the metal cheaper for overseas buyers.

Markets are currently pricing in two U.S. rate cuts for next

year despite the Federal Reserve signalling caution.

Non-yielding assets such as gold tend to benefit in lower

interest rate environments.

Simpson said two Fed rate cuts were pencilled in for 2026,

with a faster U.S. jobs slowdown and ​a shift to a more dovish

Fed likely to add further upside to gold.

Elsewhere, platinum jumped 4.3% to $2,057.15, hitting

its highest in more than 17 years, while palladium

climbed 4.2% to $1,786.45, hitting a near three-year ‍high.