Overview

• Spot gold crossed $4,000 per ounce this week and is up roughly 50–54% in 2025, setting records in both COMEX futures and the spot market.
• Silver touched about $50 per ounce and is up around 69% year to date, while platinum has climbed roughly 83%, as industrial demand tightens alongside safe‑haven flows.
• World Gold Council figures show record quarterly inflows into gold ETFs and assets under management near $472 billion, alongside strong central‑bank accumulation.
• Bank of America and other strategists warn the advance looks overbought, citing extended runs above key moving averages and elevated RSI readings that raise correction risk.
• Analysts describe a broader flight from paper currencies tied to fiscal and monetary worries, even as some houses project further upside, including Goldman Sachs’ $4,900 goal for 2026.