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5d ago

Gold Breaks $4,500 as Silver and Platinum Hit Records as Year-End Volatility Rises

Fed‑easing expectations plus safe‑haven flows tied to Venezuela tensions powered the breakout.

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A woman walks past the headquarters of the People's Bank of China, the country's central bank, in Beijing on July 9, 2024.
One kilogram gold bars at the ABC Refinery smelter, operated by Pallion, in Sydney, Australia. Gold prices have soared higher this year.

Overview

  • Spot gold touched about $4,525 an ounce for a new record, with silver near $72 and platinum above $2,300 before paring some gains.
  • Gold is up roughly 70% in 2025, its strongest year since 1979, while silver has surged about 130%–150% and platinum has gained around 160%.
  • A weaker dollar, bets on further Federal Reserve rate cuts and geopolitical stress around U.S.–Venezuela tanker seizures supported haven demand.
  • Persistent central‑bank purchases and inflows into gold‑backed ETFs underpinned the rally, while silver benefited from tight supply and rising industrial use.
  • Thin holiday liquidity and overbought signals prompted profit‑taking and a brief pullback, even as banks forecast further gains into 2026, including Goldman Sachs’ $4,900 target with some calling for a test of $5,000.