ISLAMABAD: Gold, silver and platinum prices reached record levels on Friday in global markets.
According to experts, low liquidity in the market at the end of the year, increased speculation by investors, expectations of further cuts in US interest rates and increasing geopolitical tensions have pushed precious metals to new heights.
Spot gold prices rose 0.6 percent to $4,504.79 an ounce, while gold also touched a record high of $4,530.60 during trading. Gold contracts for February in the US futures market continued to trade at $4,535.20 an ounce, up 0.7 percent.
Silver prices saw a significant rally, with spot silver up 3.6% to $74.56 an ounce, after hitting an all-time high of $75.14 during the session.
Speculative investment has been supporting the rally in gold and silver since early December, said ONDA senior market analyst Calvin Wong. He said a weak US dollar, expectations of a prolonged interest rate cut and rising global geopolitical risks have pushed precious metals prices to new record highs.
He predicted that gold could reach $5,000 an ounce in the first half of 2026, while silver could reach around $90.
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