Gold and Silver Prices Reach All-Time Highs
Recently, the precious metals market has seen a strong upward trend, with spot prices for gold and silver breaking previous records and drawing widespread market attention.
Silver prices soared to $93.69 per ounce during the session, rising more than 4% and setting a new historical high. At the same time, gold prices showed strong momentum, with gains expanding to 2%, reaching $4,690 per ounce, also hitting a record high.
Drivers Behind the Surge in Precious Metals
This significant rise in gold and silver prices has been driven by multiple supportive factors. Ongoing global macroeconomic uncertainties, intensifying geopolitical risks, and rising inflation expectations have all provided strong support for precious metal prices.
- Rising market risk aversion has led to continued inflows of capital into the precious metals market.
- The weakening US dollar index has enhanced the appeal of dollar-denominated gold and silver.
- Global central banks continue to add to their gold reserves, further supporting gold prices.
Analysts note that precious metal prices may still have room to rise in the short term, and investors should closely monitor market dynamics and changes in macroeconomic data.