Gold and silver exchange traded funds (ETFs) were up more than 1% Tuesday afternoon as silver prices set a fresh multi-decade high and gold notched new records.

Prices rose as high as $1,455.50 an ounce, an intraday record for gold, MarketWatch reported.

Meanwhile, iShares Silver Trust (NYSEArca: SLV) traded above $38 a share.

Precious metals were moving higher Tuesday afternoon despite China’s latest interest-rate increase. [Will Latest Rate Hike Slow China ETFs?]

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