Overview
- Spot gold climbed as high as $4,435 per ounce and silver hit $69.44, setting new records in Monday trading, according to Reuters.
- Indian benchmarks also set records, with gold at Rs 1,38,200 per 10 grams and silver at Rs 2,14,500 per kilogram in New Delhi, industry data showed.
- Traders priced further Federal Reserve easing into 2026 and a weaker dollar, while central‑bank buying and large ETF inflows reinforced the rally, with Goldman Sachs projecting gold at $4,900 by late 2026.
- Escalating geopolitical risks, including U.S. actions targeting Venezuelan tankers, Israel–Iran tensions and a Ukraine strike on a Russian-linked oil ship, strengthened safe‑haven flows.
- Silver has far outpaced gold in 2025, up roughly 130–140% year to date versus about 67–70% for gold, though analysts warned thin year‑end liquidity and stretched positioning could heighten volatility.