Overview

• Spot gold touched $3,508.73 per ounce overnight before easing back from the highs.
• Silver climbed to about $40.5, its strongest level since 2011, with euro prices setting records.
• Traders cite growing odds of a September Fed rate cut and dollar jitters, with pressure from President Trump—including the move to oust Fed governor Lisa Cook—supporting safe‑haven buying.
• Analysts highlight tight silver supply, record industrial demand and sustained ETF inflows that have reduced available London inventories.
• Both metals have gained roughly one‑third since late 2024, and investors now look to Friday’s U.S. jobs report to gauge the rate path.