Gold has surged past $4,000 an ounce for the first time, driven by geopolitical uncertainty, economic volatility, and expectations of U.S. interest rate cuts. Silver followed suit, hitting $49.57/oz, as investors flocked to these safe-haven assets.
Key Takeaways:
- Gold is up 54% YTD, silver up 71%, outpacing global equities, Bitcoin, and crude oil.
- Strong central bank buying, ETF inflows, and a weakening dollar are fueling the rally.
- Technicals: Gold’s RSI at 87, signaling overbought conditions.
- Analysts see potential for gold to approach $5,000/oz if macro trends persist.
- Momentum extends to other precious metals: platinum +3%, palladium +8.4%, reaching multi-year highs.
Investors continue to seek safe, liquid stores of value amid a turbulent global landscape.