Silver Rises Over 120% YTD 
Gold prices have broken through the $3,000/oz barrier, marking a 14% year-to-date gain following last year’s 27% rally.
While the World Gold Council notes this surge happened unusually fast (210 days versus the typical 1,708 days for $500 increments), both they and Morgan Stanley warn of potential near-term consolidation.
Central banks, particularly China’s PBOC, and ETF investments are driving demand, though jewelry purchases have dropped significantly, especially in India where imports fell over 50%. Despite possible short-term volatility, gold’s fundamentals remain strong amid global uncertainties and falling interest rates.
