TechFlow news, on December 26, according to Jinshi Data, spot gold hit a record high of $4,530.6 per ounce on Friday, while spot silver briefly reached a historic peak of $75.14. Kelvin Wong, Senior Market Analyst at OANDA, said momentum-driven and speculative traders have been driving gains in gold and silver since early December. Thin year-end liquidity, expectations of prolonged Fed rate cuts, a weaker dollar, and surging geopolitical risks have collectively pushed precious metals to new record highs. Gold may move toward the $5,000 per ounce level in the first half of next year, while silver has the potential to reach around $90 per ounce. Additionally, platinum and palladium surged due to tight supply, tariff uncertainty, and rotation from gold investment demand—platinum is up approximately 165% year-to-date and palladium over 90%. Jigar Trivedi, Senior Research Analyst at Reliance Securities, said platinum is supported by strong industrial demand, with U.S. inventory holders building positions amid concerns related to sanctions, helping sustain elevated prices.
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