Overview
- Gold set a first-ever threshold above $5,000 per ounce with an intraday high around $5,112 and a close near $5,090.
- Silver exceeded $100 for the first time, briefly trading near $108–$110 as the gold-to-silver ratio tightened into the high-40s.
- Safe-haven buying accelerated by geopolitical tensions and actions by President Donald Trump, a softer dollar, and strains in government bond markets.
- Heavy demand from institutions and investors underpinned prices, with sizeable 2025 central-bank purchases and roughly $89 billion of ETF inflows alongside new family-office allocations.
- Analysts differ on the outlook, with warnings of speculative excess in silver and commentary pointing to potential further gains for gold.