Precious metal prices reached record highs
On December 26, the price of silver reached $75 per ounce, while gold and platinum also set record highs. This price increase occurred against a backdrop of speculative bets and rising geopolitical tensions. Spot gold rose by 0.8% to $4515.73 per ounce, while the record spot gold value was $4530.60. Futures for gold in the U.S. with delivery in February increased by 0.9% to $4545.10.
The price of silver in the spot market also shows significant growth, jumping by 3.8% to $74.68 per ounce. The historical maximum for silver was $75.14. Experts predict that in the first half of 2026, the price of gold could rise to $5,000, and silver could reach around $90. Since the beginning of December, momentum and speculative players have been driving up the prices of gold and silver, noted Kelvin Wong.
The impact of new discoveries on the market
It is also worth noting that a gigantic underwater gold deposit was recently discovered near the Shandong Peninsula, which could impact the market in the near future.
The rising prices of precious metals, particularly gold and silver, indicate an increased interest among investors in assets that are traditionally considered a safeguard against economic and political risks. The geopolitical tensions observed on the international stage may continue to stimulate demand for these metals. The discovered underwater gold deposit could change the supply balance in the market; however, its impact will only become clear over time when the developments begin.