Gold prices rocketed to a record all-time high at $4,116.77 late on October 13 amid high geopolitical tensjona, economic uncertainties, and United States Federal Reserve cues.<\/p>\n
Spot gold was up 2.2 per cent to $4,106.48 per ounce, as of 01:47 p.m. ET (1747 GMT), after hitting a record $4,116.77, according to a Reuters report. <\/p>\n
US gold futures for December settled 3.3% higher at $4,133.<\/p>\n
Gold broke through $4,100 per ounce for the first time on Monday, hitting another record high on renewed U.S.-China trade tensions and expectations of U.S. interest rate cuts, while silver also rose to an all-time high.<\/p>\n
Gold has climbed 56% this year and scaled the $4,000 milestone for the first time last week, driven by factors including geopolitical and economic uncertainties, expectations of U.S. interest rate cuts and robust central bank buying.<\/p>\n
“Gold could easily continue its upward momentum. We could see prices north of $5,000 by the end of 2026,” said Phillip Streible, chief market strategist at Blue Line Futures.<\/p>\n
Steady central bank purchases, firm ETF inflows, U.S.-China trade tensions and the prospect of lower U.S. interest rates are providing structural support for the market, Streible added.<\/p>\n
On the geopolitical front, U.S. President Donald Trump reignited trade tensions with China on Friday, ending an uneasy truce between the world’s two largest economies.<\/p>\n
Meanwhile, traders are pricing in a 97% probability of a 25-basis-point Federal Reserve rate cut in October and a 100% chance for December. Gold, a non-yielding asset, tends to do well in low-interest-rate environments.<\/p>\n
Analysts at Bank of America and Societe Generale now expect gold to reach $5,000 in 2026, while Standard Chartered has raised its forecast to an average of $4,488 next year.<\/p>\n
“This rally has legs in our view, but a near-term correction would be healthier for a longer-term uptrend,” said Suki Cooper, global head, commodities research at Standard Chartered Bank.<\/p>\n
Spot silver rose 3.1% to $51.82, touching a record high of $52.12 earlier in the session, buoyed by the same factors supporting gold and spot market tightness.<\/p>\n
Technical indicators show both are overbought, with the relative strength index (RSI) at 80 for gold and 83 for silver.<\/p>\n
Platinum rose 3.9% to $1,648.25, and palladium gained 5.2% to $1,478.94.<\/p>\n
(With inputs from Reuters)<\/p>\n","protected":false},"excerpt":{"rendered":"Gold prices rocketed to a record all-time high at $4,116.77 late on October 13 amid high geopolitical tensjona,…\n","protected":false},"author":2,"featured_media":211165,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[38154,45,49,48,33563,3242,7328,30402,100,7884,102713,102712,3243,7327,102711],"class_list":["post-211164","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-all-time-high","tag-business","tag-ca","tag-canada","tag-commodity","tag-gold","tag-gold-prices","tag-interest-rate-cuts","tag-markets","tag-metals","tag-precious-metal","tag-record-high","tag-silver","tag-silver-prices","tag-u-s-china-trade-tensions"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/211164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=211164"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/211164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/211165"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=211164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=211164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=211164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}