Silver surged past the $90-per-ounce threshold, while gold moved closer to a record high, as escalating attacks on the U.S. Federal Reserve, the prospect of renewed U.S. interest rate cuts, and heightened geopolitical tensions combined to add strong momentum to the powerful rally in precious metals.
اضافة اعلان
The white metal rose by as much as 5.3% on Wednesday, touching $91.5535 per ounce, while gold traded at a level about $10 below its all-time peak.
Core inflation in the United States came in lower than feared in December, although economists noted that the data were artificially distorted by the longest government shutdown in the country’s history last year.
Strong Momentum for Precious Metals at the Start of 2026
Precious metals have begun 2026 on a strong footing, following sharp rallies last year, as concerns over the independence of monetary policy have resurfaced amid the possibility of criminal charges being brought against Federal Reserve Chair Jerome Powell.
Central bankers around the world quickly voiced support for Powell, while JPMorgan Chase CEO Jamie Dimon warned that political interference could be counterproductive.
Safe-haven demand has also been bolstered by U.S. President Donald Trump’s move to arrest Venezuela’s president, his renewed threats to take control of Greenland, and violent protests in Iran that could potentially lead to the collapse of the regime.
This week, Citi Group analysts raised their three-month price forecasts for gold and silver to $5,000 per ounce and $100 per ounce, respectively.
Silver Outperforms, Hits an All-Time High
Silver outperformed gold last year, surging by around 150%, supported by a short squeeze in October and continued supply tightness in London. Traders are closely watching the outcome of a U.S. investigation under Section 232, which could result in tariffs being imposed on silver.
Concerns over potential tariffs have led to large quantities of the metal being held in U.S. warehouses, contributing to a decline in global inventories.
Silver rose 4.6% to $90.9590 per ounce by 12:31 p.m. Singapore time. Gold gained 0.9% to $4,626.43 per ounce, near its all-time high of $4,634.55 recorded on Tuesday. Platinum and palladium both jumped by more than 4%, while the Bloomberg spot dollar index was little changed.
Agencies
