Overview
- Spot gold hit a record around $4,525 per ounce as silver topped $72 and platinum exceeded $2,370 before easing in late trade.
- Safe-haven demand tied to U.S.–Venezuela tensions, a softer dollar, expected Fed cuts, heavy central‑bank buying, and persistent ETF inflows propelled the move.
- Year to date, gold is up about 70% and silver roughly 150%, marking their strongest annual gains since 1979, with local records also set in India.
- Thin year‑end liquidity and profit‑taking led to a short consolidation after successive sessions of new highs across precious metals.
- Forecasts point to further upside into 2026, including Goldman Sachs’ $4,900 base case and scenarios near $5,000, though a stronger dollar or slower official buying could limit gains.