One more day, a new all-time high (ATH) in precious metals! Gold, silver, and platinum have again refreshed their records today.
Market experts see this rise as an alarm signal and it indicates a decrease in confidence in financial systems and permanent inflation risks. On the other hand, the cryptocurrency community is discussing whether this rise in precious metals will trigger a significant capital shift to Bitcoin in 2026.
Gold, Silver, and Platinum at New All-Time Highs
According to the latest market data, gold has surpassed 4,500 dollars for the first time in its history, reaching an ATH of 4,526 dollars. At the same time, silver peaked at 72.7 dollars.
Economist Peter Schiff made the following assessment: 'Silver is currently trading above 72.30 dollars, rising above one dollar. It seems that the 80 dollar level is on the table before the year ends.'
Platinum peaked by testing above 2,370 dollars. Palladium prices have exceeded 2,000 dollars for the first time since November 2022.
The rally was not limited to precious metals. Copper rose to 12,000 dollars per ton for the first time and is preparing for its strongest annual gain since 2009. Nic Puckrin, co-founder and investment analyst at Coin Bureau, summarized the reason for this performance in precious metals as follows:
'Interest rate cuts, geopolitical tensions – developments that have resurfaced this week with Venezuela – and most critically, actions aimed at devaluing the dollar.'
What Does the Rise in Precious Metals Signal?
Although record prices increase positive expectations, some analysts argue that these increases hide much deeper macroeconomic issues. Schiff points out that gold, silver, commodities, bonds, and currency markets are all facing unprecedented inflation in the 250-year history of the U.S.
However, recent data shows that the U.S. economy grew by 4.3% in the 3rd quarter, significantly exceeding market expectations. However, the economist warned about the official data.
'CPI figures are manipulated to obscure price increases and hide inflation from the public,' he stated.
Analyst Andrew Lokenauth noted that the rapid rise of silver is 'rarely a good sign.' According to him, this situation indicates a loss of confidence in political leadership and fiat currencies.
Lokenauth illustrated this with the following statement: 'This situation was also observed just before the fall of the Roman Empire, during the French Revolution, and while the Spanish Empire was collapsing. It not only predicts chaos but often triggers it as well. The wealthy protect themselves with gold and silver, while the poor are left with worthless paper money, and wealth largely changes hands.'
Meanwhile, the DXY index weakened significantly throughout 2025. As the year comes to a close, the index has fallen below the 98 level again.
Neil Sethi shared: 'The dollar index recorded its lowest close since October 3.'
Otavio Costa announced that a critical turning point is approaching in the U.S. dollar. According to Costa, after opening the year at one of the historically highest levels, the DXY has experienced a significant drop to an important support area that has worked for about 15 years.
Costa made the following assessment: This support has been tested multiple times in recent months, and in my opinion, we have reached the brink of a significant break. This breakout could create very deep consequences for global markets.
The analyst pointed out that while foreign central banks are tightening, the U.S. Federal Reserve is under pressure to ease due to the rising debt burden. According to him, large trade and budget deficits are historically resolved with financial pressure. This process usually occurs with a weakening dollar rather than a strong dollar.
Analysts are monitoring the capital shift from Gold to Crypto in 2026.
Despite the weakness in the DXY, Bitcoin is having a tough time. Bitcoin is lagging behind both precious metals and technology stocks in 2025 and is preparing for its worst quarter since 2018.
Another point highlighted by BeInCrypto is that many new investors are currently preferring traditional value storage tools over crypto. Yet, within the cryptocurrency community, hopes are still alive that gold's rise could trigger a similar movement in Bitcoin in the future.
Analyst Garrett warned that the rise in silver, palladium, and platinum is largely due to short squeeze movements, and such sudden moves are unlikely to be long-lasting.
Analyst Garrett used the following words: 'When the upward movements in these products begin to reverse, it will likely pull gold down as well. Then capital will leave precious metals and move towards BTC and ETH.'
David Schassler, President of VanEck Multi-Asset Solutions, predicts that Bitcoin could rise again in 2026. Schassler believes that the asset has the potential to rebound in an environment where the devaluation of money accelerates and liquidity returns to the market.
Schassler stated: 'Bitcoin is about 50% behind the Nasdaq 100 Index since the beginning of the year, and this divergence could make it one of the best-performing assets in 2026. Today's weakness reflects weakening risk appetite and temporary liquidity pressures; it does not indicate a breakdown of the fundamental story. As the value of money declines, liquidity returns to the market, and Bitcoin has always responded to this with clear reactions in the past. We are also making purchases.'
Finally, Puckrin emphasized that it is not far-fetched for Bitcoin to see new peaks in 2026.
Puckrin stated, 'What is important is that Bitcoin can still change direction and reach a new all-time high (ATH) in 2026. Meanwhile, gold and silver may lose their luster.'
In the coming months, the markets will test whether precious metals can maintain their record gains or if anticipated profit-taking will lead to capital rotation.
