Gold Prices Soar Gold prices hit a record high on Tuesday, surpassing $4,480 an ounce for the first time, after posting a 2.4% gain in the previous session, their biggest surge in more than a month. The rise was driven by rising geopolitical tensions, particularly related to the US blockade of oil tankers against Venezuela and market expectations that the Federal Reserve will cut interest rates further in 2026. This year, gold has surged 70% and is on track for its biggest annual gain since 1979.
Meanwhile, silver also hit a new record, surging 1% to $69.7060 an ounce, thanks to speculative flows and ongoing supply tensions in several major trading centers. Silver's rise has been even more spectacular than gold's, with a gain of around 140% this year. Analysts expect gold prices to continue rising in 2026, targeting $4,900 an ounce, driven by demand for safe-haven assets and more lenient monetary policy. (asd)
The price of gold at the time of this analysis was released was $4,487.
Disclaimer: This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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