Unprecedented Rally in Gold and Silver Prices Reach New Heights
Precious metals continued their unprecedented rally on Friday. Gold soared to $3,549 per ounce, and silver reached an impressive $41.14 per ounce – a peak not seen since September 2011. This surge is fueled by a combination of anticipated Federal Reserve rate cuts, ongoing trade uncertainties, and a broad weakness in the US dollar.
Silver has been particularly remarkable, boasting a nearly 40% gain in the first eight months of 2025. Major financial institutions are adjusting their forecasts accordingly. J.P. Morgan now predicts that gold could reach $3,675 by Q4 2025, and even potentially hit the $4,000 mark by Q2 2026.
This rally is a clear reflection of the growing economic uncertainty. The escalating US-China trade tensions and geopolitical risks are major contributors. However, central bank purchases and the industrial demand from solar panel and electric vehicle manufacturers are also providing significant support for the rising prices of these precious metals.
Source: Daily Forex