Gold, silver and platinum hit record highs as geopolitical tensions and economic uncertainty boost precious metals

Gold notched one other report excessive on Friday, whereas silver and platinum additionally prolonged good points to hit all-time peaks, powered by diminishing confidence in U.S. belongings on account of geopolitical tensions and financial uncertainty.

Spot gold was up 0.4% at $4,957.10 per ounce, as of 0536 GMT, after scaling a report $4,966.59 earlier within the day.

U.S. gold futures for February supply added 0.9% to $4,958.30 per ounce.

”Religion within the U.S. and its belongings have been shaken, perhaps completely, and that is driving cash into treasured metals. So the phrase rupture has been thrown round. I don’t suppose that’s an exaggeration,” mentioned Kyle Rodda, a senior market analyst at Capital.com.

The greenback index hovered close to a greater than two-week low on Friday, having fallen 1% in the midst of the week, making greenback-priced metals cheaper for abroad patrons, whereas Wall Road’s foremost indexes noticed a pointy sell-off earlier within the week as buyers have been spooked by contemporary tariff threats from U.S. President Donald Trump on the EU, earlier than recovering.

EU leaders heaved a sigh of reduction over Trump’s U-turn on Greenland as they met for an emergency summit in Brussels late on Thursday whereas issuing a warning that they have been able to act if Trump threatens them once more.

The U.S. president for his half mentioned he had secured whole and everlasting U.S. entry to Greenland in a cope with NATO.

The small print of any settlement stay unclear and Denmark insisted its sovereignty over the island isn’t up for dialogue.

Spot silver surged 2.8% to $98.87 an oz., after hitting a report excessive of $99.34 earlier.

”The underlying story to silver is one concerning the outperformance of silver versus gold and its industrial functions,” Rodda added.

Markets anticipate the Fed will ship two quarter-percentage level charge cuts within the latter half of 2026, elevating non-yielding gold’s enchantment. [FEDWATCH]

Spot platinum gained 0.8% to $2,650.90 per ounce after hitting a report $2,684.43 earlier, whereas palladium misplaced 0.6% to $1,908.02.

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