 |
| Gold Prices |
Gold Hits Historic Highs Amid Macro Risks
Gold price tops $4,500 per ounce for the first time, driven by geopolitical tensions in Venezuela. Meanwhile, expectations for further US interest rate cuts are fueling safe-haven demand. Spot gold reached an intraday high of $4,524.68, before settling near $4,450 as traders took profits. US gold futures briefly hit $4,555.10, signaling strong investor appetite despite minor retracements.
Precious Metals Rally Extends Beyond Gold
Silver and platinum have mirrored gold’s surge, reaching record levels. Silver rose to $72.70 per ounce, up over 150% this year, supported by speculative inflows and global supply disruptions. In contrast, platinum exceeded $2,300, driven by automotive and jewelry demand and historically high borrowing costs. Goldman Sachs projects gold could reach $4,900 next year, indicating sustained bullish momentum.
Market Drivers and Investor Outlook
Central bank purchases and ETF inflows remain the primary support for gold. John Feeney of Guardian Vaults notes that momentum reflects genuine physical demand, not speculative froth. Meanwhile, trade policies and macroeconomic risks continue to reinforce investor conviction. Analysts suggest the metals rally could persist, with broader implications for investment strategies and recycling industries.
ScrapInsight Commentary
Gold’s historic surge highlights investor flight to safe-haven metals amid macroeconomic uncertainty. Recycling demand could intensify as prices incentivize supply recovery. Policy shifts and central bank actions will likely sustain elevated price levels into 2026.
