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In recent times, precious metals like Gold and Silver have been on a remarkable rally, hitting new record highs. Gold, in particular, has been grabbing attention, soaring to a new all-time high against the USD, with Silver not far behind, reaching an 11-year peak above $30. This surge is driven by various factors, including geopolitical uncertainties and sustained demand from central banks.
Gold’s Rally and Silver’s Surge
Gold’s price rally, fueled by geopolitical tensions and expectations of a dovish move by the Fed, has pushed it closer to $2,500 per ounce. According to The Kobeissi Letter, gold prices have surged to a new all-time high of $2,450, marking a 23% increase in three months and a 35% rise since October. This surge outpaces the S&P 500’s gains, driven by escalating geopolitical tensions in the Middle East. Plus, central banks’ record
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