Gold surged past $5,000 an ounce, with silver hitting $115, sparking concerns about the rapid rise in precious metals. Investors flock to gold as a hedge against rising government debt worldwide. The US dollar weakens, boosting gold prices for non-dollar buyers. Goldman Sachs raises year-end price target to $5,400 due to increased private investor participation. Platinum also reaches new highs, up over 40% this year.

Read more at Yahoo Finance: Gold tops $5,000, silver soars as ‘breathtaking and profoundly scary’ rally continues