Gold, Silver Soar on Rate Cuts, Geopolitical Tensions
Update: 2025-12-22
Description
Gold and silver prices soared to new heights on Wednesday, driven by anticipation of interest rate cuts and escalating geopolitical tensions. Spot gold rose 1.1% to $2,450.70 per ounce, while U.S. gold futures surged 1.3% to $2,454.20. Silver led the charge, jumping 2.8% to $32.54 per ounce, its highest level in over a decade. Analysts attribute the surge to expectations of rate cuts by the Federal Reserve and other banks, as well as global unrest. Platinum inched up 0.2% to $1,076.75, while palladium bucked the trend, falling 1.3% to $1,773.53. As tensions persist and rate decisions approach, precious metals continue to captivate cautious investors globally.
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