Gold prices edged higher as traders seemingly brushed off slightly hawkish signals from the U.S. Federal Reserve. According to ANZ, policymakers indicated only one additional rate cut in 2026. However, investors primarily focused on the Fed leaving the door open for further easing next year, with markets continuing to anticipate two rate cuts in 2026.
Spot gold was recently trading up by 1.9 per cent, reaching $US4274.51 per ounce. This increase reflects ongoing investor confidence in the precious metal as a hedge against economic uncertainty and currency devaluation. Gold is often seen as a safe-haven asset during times of economic volatility.
Silver also experienced a notable surge, hitting a new record high of $US64 per ounce. The price represents a substantial increase of 116 per cent year-to-date. This rally is attributed to investors diversifying into alternative precious metals amid tightening physical supply and disruptions across major trading hubs. This dislocation has amplified the upward price pressure on silver.
