Gold has surged to a fresh all-time high, fuelling predictions it could break through the $4,000 mark before the end of the year.
The precious metal climbed to $3,778 per ounce this week, up 42% since January, while silver reached $42 per ounce – a gain of 45%. The rally has been underpinned by a combination of central bank buying, sticky inflation, geopolitical instability and concerns about equity market valuations.
JPMorgan forecasts gold could top $4,000 by the second quarter of 2026, but several analysts believe the landmark may be reached sooner.
Anita Wright, Chartered Financial Planner at Ribble Wealth Management, said momentum was strong: “There’s every chance the gold and silver momentum could carry further. Silver could climb toward the $50s per ounce by year-end, with gold testing the $3,800–$3,900 range. Investors are restructuring portfolios to include a higher weighting in gold and silver. For many, these metals are no longer simply ‘insurance policies’ but strategic allocations.”
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