Historic Rally in Precious Metals Market
Global precious metals are experiencing a powerful surge, with spot gold breaking the $4,630 per ounce mark for the first time, rising 2.67% in a single day and setting a new record. Silver outperformed even gold, jumping $6.00 to surpass $86 per ounce, marking a 7.59% gain and reaching an unprecedented high.
Key Drivers Behind the Price Explosion
This rally is fueled by a confluence of macroeconomic forces. Rising geopolitical tensions, growing expectations of dovish central bank policies, and persistent inflation concerns have amplified demand for safe-haven assets.
- Strong inflation hedge appeal boosts investor interest
- Weakening US dollar enhances metal affordability globally
- Institutional inflows into precious metals ETFs surge
- Central banks continue aggressive gold accumulation
Market analysts note that momentum is firmly bullish, with both technical indicators and fundamental trends pointing to further upside potential in the near term.