Spot yellow hit a record high of $4530.6 per ounce on Friday, and spot silver once hit a record high of $75.14. Kelvin Wong, senior market analyst at OANDA, said that since the beginning of December, kinetic-driven and speculative traders have been driving the rise in gold and silver. Thin liquidity at the end of the year, expectations of long-term interest rate cuts by the Federal Reserve, weakening dollar, and surging geopolitical risks have combined to push precious metals to new record highs. Gold may move towards the level of 5,000 US dollars per ounce in the first half of next year, while silver has the potential to reach around 90 US dollars per ounce. Furthermore, platinum and palladium have soared due to tight supply, tariff uncertainty, and rotation in gold investment demand. Platinum has risen about 165% and palladium has risen more than 90% so far during the year. Jigar Trivedi, a senior research analyst at Reliance Securities, said that platinum is supported by strong industrial demand, and US inventors have been filling positions amid concerns related to sanctions, which helps maintain high prices.

Spot yellow hit a record high of $4530.6 per ounce on Friday, and spot silver once hit a record high of $75.14. Kelvin Wong, senior market analyst at OANDA, said that since the beginning of December, kinetic-driven and speculative traders have been driving the rise in gold and silver. Thin liquidity at the end of the year, expectations of long-term interest rate cuts by the Federal Reserve, weakening dollar, and surging geopolitical risks have combined to push precious metals to new record highs. Gold may move towards the level of 5,000 US dollars per ounce in the first half of next year, while silver has the potential to reach around 90 US dollars per ounce. Furthermore, platinum and palladium have soared due to tight supply, tariff uncertainty, and rotation in gold investment demand. Platinum has risen about 165% and palladium has risen more than 90% so far during the year. Jigar Trivedi, a senior research analyst at Reliance Securities, said that platinum is supported by strong industrial demand, and US inventors have been filling positions amid concerns related to sanctions, which helps maintain high prices.