Gold prices are charging toward an unprecedented $5,000, fueled by a potent mix of global instability and shifting monetary policy. Silver, trading powerfully near $98.50, appears poised for a potential run toward the $100 milestone. The rally is underpinned by sustained central bank demand for gold, a softening US dollar, and investors seeking safety amid geopolitical risks. While brief pauses are expected, the technical structure for both metals remains solidly bullish, suggesting the historic rally has further room to run.
Key Points:
Gold is soaring, nearing the $5,000 mark, driven by geopolitical tension, expectations of interest rate cuts, and strong central bank buying.
Silver is holding strong near $98.50, maintaining a clear bullish trend with significant upside potential.
A weaker US Dollar and global economic concerns are fueling safe-haven demand for both metals.
Short-term consolidation is likely, but the overall trend remains decisively bullish for both gold and silver.
Key technical levels: Gold faces resistance at $4,970-$5,000; Silver's next target is $99.65.
