Gold and silver prices surge to historic highs amid global tensions and expectations of a US interest rate cut
Gold and silver prices surge to historic highs amid global tensions and expectations of a US interest rate cut
Gold hit an unprecedented high on Monday, surpassing $4,600 an ounce for the first time ever, while silver continued its strong gains, reaching an all-time high. This surge occurred amidst a global climate charged with geopolitical and economic uncertainty, and growing expectations that the US Federal Reserve will cut interest rates. The price of gold rose by approximately 1.5 percent in spot trading, driven by investors' increased demand for safe-haven assets. Meanwhile, US gold futures for February delivery climbed by about 2 percent to reach $4,591.10 an ounce, a clear indication of strong investment demand. In a related development, HSBC Bank predicted that gold will continue its upward trajectory in the coming period, forecasting that prices will reach $5,000 an ounce during the first half of 2026. This prediction is supported by escalating geopolitical risks, rising global debt levels, and the continued uncertainty surrounding the global economic outlook. The record-breaking s…