Gold, silver prices soar to near-record highs—here's why
Gold jumped to $4,192.78 per ounce on Friday, while silver set a new all-time high above $55 per ounce.
These spikes are mostly thanks to talk of a possible US interest rate cut and some weaker economic signals, which have investors looking for safer places to park their money.
Why does this matter?
When gold and silver rise like this, it usually means people are worried about things like inflation or global tensions.
More folks are turning to precious metals as a way to protect their savings from currency drops or economic surprises—something that could shake up investment trends worldwide.
What's behind the surge?
The main driver is growing belief that the Federal Reserve will cut rates in December. That's made gold and silver more attractive.
Silver prices also got a boost from technical trading trends and shrinking supplies in China—the lowest since 2015—which has tightened things up even more.
Plus, recent trading halts created extra price swings due to fewer buyers and sellers in the market.