Again a new day, again new records for precious metals. Gold, silver, and platinum all reached new record levels today.
Market experts consider this rise a warning signal and refer to a deterioration of confidence in financial systems as well as ongoing inflation risks. The crypto community, on the other hand, assesses whether the sentiment for precious metals might later lead to capital shifting to Bitcoin in 2026.
Gold, silver, and platinum signify new all-time highs
According to the latest market data, the price of gold rose today for the first time above $4,500, setting a new all-time high of $4,526. Meanwhile, silver surpassed its peak of $72.7.
“Silver is up over a dollar and is now trading above $72.30. It seems that $80 could be realized before the end of the year,” economist Peter Schiff wrote.
The peak price of platinum was recorded at over $2,370. Palladium rose above the $2,000 mark, which it last reached in November 2022.
The rise extended beyond precious metals. Copper rose for the first time to $12,000 per ton and is on track for the largest annual increase since 2009. Nic Puckrin, an investment analyst and co-founder of The Coin Bureau, told BeInCrypto that the strong performance of precious metals is due to
“A combination of interest rate cuts, geopolitical tensions — which are resurfacing this week regarding Venezuela — and, above all, the devaluation of the dollar.”
What the rally in precious metal prices might warn about
The new record prices have increased confidence in a continued rise, but some analysts estimate that there may be a much more concerning macroeconomic reality behind it. According to Schiff, gold, silver, commodities, bonds, and currency markets collectively signal that the United States is heading toward the highest inflation in its 250-year history.
His warning comes even though the latest figures show that U.S. GDP grew by 4.3% in the third quarter — well above market expectations. However, the economist warned against taking official figures as given truth.
“CPI is being manipulated to keep price increases and inflation hidden from the general public,” he added.
Analyst Andrew Lokenauth warned that the rapid rise in silver prices is “rarely a good sign.” According to him, it indicates a weakening of confidence in political leadership and fiat currencies.
“This happened just before the fall of the Roman Empire, during the French Revolution, and at the collapse of the Spanish Empire. It not only predicts chaos but often causes it. It triggers a massive transfer of wealth: the poor are left behind with worthless paper money, while the rich protect their assets with gold and silver,” Lokenauth noted.
The DXY has weakened significantly throughout 2025. As the year approaches its end, the index has again fallen below 98.
“The Dollar Index fell to its lowest level since October 3,” Neil Sethi wrote.
Otavio Costa stated that the U.S. dollar is approaching a crucial turning point. According to him, the DXY started the year from an exceptionally overvalued level and then sharply declined to a key support area that has held for about 15 years.
“This support level has now been tested several times, particularly in recent months, and I believe we are close to a significant decline — a crash that could have widespread effects on global markets,” he said.
The analyst mentioned that the background involves foreign central banks shifting to tighter policies as the U.S. central bank faces growing pressure to ease rates due to rising debt servicing costs. According to Costa, large trade and budget deficits have historically been resolved through financial pressure. This usually occurs alongside a weaker dollar, not a strong one.
From gold to crypto? Analysts are watching capital shifts to Bitcoin in 2026
Despite the weakness of the DXY, Bitcoin has continued to struggle. This asset class has lagged behind both precious metals and technology stocks in 2025 and is on track for its worst quarter since 2018.
BeInCrypto also pointed out that many new investors currently prefer traditional value preservers over cryptocurrencies. However, the crypto community remains hopeful that a rally in gold prices could be followed by a similar movement in Bitcoin.
Analyst Garrett noted that the rise in silver, palladium, and platinum is explained by the short squeeze phenomenon but warns that such a move is unlikely to last long.
“When the movement turns in the opposite direction, it is likely to also push the price of gold down. Capital is shifting away from precious metals to BTC and ETH,” he claimed.
David Schassler, head of multi-asset solutions at VanEck, also predicts a new rise for Bitcoin in 2026. He believes the asset class is in a position for recovery as the devaluation of money accelerates and liquidity returns to the markets.
“Bitcoin has lagged behind the Nasdaq 100 index by about 50% this year, and this disparity creates the opportunity for a top performance in 2026. Today's weakness indicates a more subdued risk appetite and temporary liquidity pressures, not that the bottom has broken. As the devaluation accelerates and liquidity returns, Bitcoin has previously reacted strongly. We have made purchases,” Schassler predicts.
Finally, Puckrin noted that reaching new Bitcoin highs in 2026 is not unlikely.
“The important thing is that it is still entirely possible for Bitcoin to reverse direction and reach new ATH figures in 2026, while gold and silver may lose some of their luster.
In the coming months, markets will test whether precious metals can maintain their achieved record levels or whether a potential profit-taking will trigger a shift in capital.
