Silver to $39.50: Up 9.4% Past 30 Days
Gold prices edged higher on Friday, positioning the precious metal for a weekly gain of 2.1%. This rise follows encouraging U.S. economic data that has reinforced expectations of potential interest rate cuts by the Federal Reserve. Gold, a classic safe-haven asset, typically performs well during times of economic or political uncertainty, especially in a low-interest-rate environment.
Meanwhile, silver initially surged to a more than 13-year high, driven by strong industrial demand and ongoing supply shortages. Although it later dipped slightly by 0.1%, its momentum—alongside rising gold prices—highlights continued bullish sentiment in the broader metals market.
U.S. gold futures rose slightly by 0.2%, reaching $3,382.70 an ounce. While gold prices continue to climb, the metal is finding it hard to break through to new highs in the short term. This has led many investors to look at other precious metals that may offer better value right now.
Platinum saw a strong move, jumping 2.4% to $1,157.11 — its highest level since March 2022. Palladium also gained 1.5%, trading at $1,020.75.
According to Ole Hansen, head of commodity strategy at Saxo Bank, gold’s slow momentum is pushing investors toward undervalued metals like silver and platinum. These alternatives are drawing more attention thanks to their lower prices and strong demand.
Investing in Physical Metals Made Easy
Open an Account
