Spot gold prices fell 2% on Thursday after they crossed the $4,000 on Wednesday for the first time.<\/p>\n
Precious metals investors booked profits in both silver and gold after prices for the safe haven assets declined in the wake of a\u00a0ceasefire deal<\/a> announced in the Israel-Hamas war in Gaza.<\/p>\n IF YOU BOUGHT A GOLD BAR AT COSTCO LAST YEAR, HERE IS WHAT IT’S WORTH NOW<\/a><\/p>\n Silver prices have surged on a supply shortage this year as well as economic conditions that have favored precious metals. (Clark Hodgin\/Bloomberg via Getty Images \/ Getty Images)<\/p>\n “Speculators are taking some gold chips off the table as the\u00a0Gaza ceasefire<\/a> takes effect since it reduces the temperature in a historically volatile region,” said Tai Wong, an independent metals trader, in a Reuters report.<\/p>\n Panel discusses gold prices continued rise as investors seek dollar alternatives on \u2018Kudlow.\u2019<\/p>\n “Gold and silver may need to consolidate further, but the primary drivers of the rally, reserve diversification and large, growing global sovereign debt, remain entirely valid and keep the bullish outlook intact,” Wong added.<\/p>\n GOLD FOMO COULD PUSH METAL TO $4,000<\/a><\/p>\n Silver prices topped $50 an ounce for the first time on Thursday. (Michael Nagle\/Bloomberg via Getty Images \/ Getty Images)<\/p>\n Gold’s rally this year has been driven by geopolitical tensions, as well as robust demand from central banks, rising inflows to\u00a0exchange-traded funds (ETFs)<\/a>, expectations of interest rate cuts, and economic uncertainty stemming from tariffs and trade policy shifts.<\/p>\n The SPDR Gold ETF Trust, the largest backed by physical gold, has advanced nearly 50% this year. While smaller mining ETFs, including MicroSectors Gold Miners 3X Leveraged ETNs, have advanced more than 740% as the top performing ETF this year, as tracked by VettaFi.\u00a0<\/p>\n Ticker Security Last Change Change % GLD<\/a> SPDR GOLD SHARES TRUST – USD ACC 369.10 +3.61 Silver’s 69% rise this year has been driven by similar factors, as well as a supply shortage on the spot silver market.<\/p>\n ETFs tied to gold’s cousin are also big gainers this year, with the iShares MSCI Global Silver Miners ETF up over 148% and ProShares Ultra Silver up more than 148%.<\/p>\n Ticker Security Last Change Change % AGQ<\/a> PROSHARES ULTRA SILVER – USD DIS 78.72 -0.09 A precious metals trader noted to Reuters that liquidity in the London silver market is limited due to ETF buying and metal being moved to the U.S.<\/p>\n FED MINUTES SHOW POLICYMAKERS REMAIN CONCERNED ABOUT INFLATION AS THEY WEIGH RATE CUTS<\/a><\/p>\n Precious metals like gold have risen this year amid economic uncertainty. (Chris Ratcliffe\/Bloomberg via Getty Images \/ Getty Images)<\/p>\n![\"Silver](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/10\/silver-bars-bullion-01.jpg\")
<\/p>\n![\"American](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/10\/1760165483_696_wall-street-nyse-trader-american-flag-getty.jpg\")
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\n +0.99%
\n GDXU<\/a> BANK OF MONTREAL MICROSECTORS GOLD MINERS 3X 198.80 -0.16
\n -0.08%<\/p>\n
\n -0.11%
\n SLVP<\/a> ISHARES INC MSCI GLOBAL SILVER MINR ETF 27.38 -0.28
\n -1.01%<\/p>\n![\"Gold](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/10\/Gold-bar-printing.jpg\")
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