Gold spot price
Spot gold has climbed to a new record high today, reaching about $3,709.29 per ounce after touching $3,711.55 earlier. U.S. December gold futures also jumped roughly 1%, trading near $3,743.40 as investors respond to fresh signals of further Fed easing. This comes after the Fed’s 25-basis-point cut last week, plus comments from officials suggesting two more cuts by year-end. Weakening domestic data adds to gold’s pull. A soft labor market and lingering inflation pressures combine to reduce real interest rates. Gold’s rally gains strength as safe-haven demand grows amid geopolitical tension and central bank purchasing. UBS, Citi, and others now see higher targets for gold into 2026.
Silver spot price
Silver surged in tandem, rising about 1.3% to roughly $43.64 per ounce, near its highest since 2011. It benefited from the same strong demand boosting gold, but industrial hopes also play an outsized role. Demand from the electronics, solar, and green-tech sectors supports the momentum of silver. The gold-to-silver ratio remains elevated, leading some analysts to argue that silver is undervalued compared to gold. In India, festive demand (Navratri) plus local buying pushed silver prices sharply higher.
Other news that is affecting these spots
Markets are widely focused on the Federal Reserve’s outlook. After its recent rate cut, the Fed signaled likely additional easing, which lowers borrowing costs and weakens real yields. CPI and inflation data remain under watch; inflation is sticky, although some producer price trends show softening. The U.S. dollar has weakened on these hopes, making gold and silver more attractive to foreign buyers. Political uncertainty around central bank independence adds to safe-haven demand. Geopolitical risks remain elevated. In India, festival buying (Navratri) added local demand pressure. Major financial institutions are revising forecasts upward for gold and silver.
Platinum
Platinum rose approximately 1.2% today to around $1,420.48 per ounce. Its gains reflect the strength of general metals and demand from industrial and automotive applications. Supply constraints and strong demand for green technology also support the price. Though platinum does not benefit as much from rate cuts or safe-haven flows, it rides momentum when broader precious metals rally.
Palladium
Palladium similarly saw a gain of about 1.2%, trading near $1,163.24 per ounce. Its price depends heavily on demand for automotive catalytic converters and the tightness of supply. While palladium is less of a pure safe-haven asset, it catches upside when metals are broadly in favor and when industrial demand remains healthy.
Final Word
Gold and silver continue to benefit from expectations of Fed rate cuts, a weaker dollar, and inflation still above comfort levels for many. Silver shows extra upside because of its industrial exposure and under-valuation relative to gold. Platinum and palladium lag slightly in reaction but stay supported by demand and tight supply. With upcoming U.S. inflation data and Fed speeches ahead, metals may push yet higher, although risks from inflation surprises or shifting global growth remain.
