What’s Behind Gold and Silver’s Record-Breaking Momentum?

Price Surge Details

Precious metals rallied sharply as safe-haven demand spiked amid global uncertainties and a weakening U.S. dollar near two month lows. Gold climbed 0.5% to $4,502.75/oz after peaking at $4,530.60, while silver jumped 3.4% to $74.35/oz en route to its all time high of $75.14.

Key Highlights

• Record Peaks: Spot gold at $4,530.60/oz (up 72% YTD); silver at $75.14/oz (up 158% YTD, outpacing gold).​
• Geopolitical Drivers: U.S. "quarantine" on Venezuelan oil escalates tensions; broader risks from Ukraine, U.S.-
• China frictions boost safe-haven flows.
• ​Fed Rate Bets: Markets price in two 2026 cuts; low rates favor non-yielding bullion amid central bank buying and ETF inflows.
• ​Silver Boosters: Industrial demand (solar, EVs), U.S. critical minerals status, and supply deficits amplify gains.

​Market Outlook

The rally underscores bullion's resilience in turmoil, with platinum up 5% to $2,334.35/oz and palladium rising 4.4%. Investors eye sustained demand as gold eyes further records.
​
Sources: Zawya, Bloomberg, Reuters