Analysts predict that gold and silver may reach $5,000 and $90 respectively next year.

Odaily Planet Daily reports that spot gold hit a record high of $4,530.6 per ounce on Friday, while spot silver briefly touched a record high of $75.14. Kelvin Wong, senior market analyst at OANDA, stated that since early December, momentum-driven and speculative traders have been driving the rise in gold and silver prices. Thin year-end liquidity, expectations of prolonged Fed rate cuts, a weaker dollar, and surging geopolitical risks have all contributed to pushing precious metals to new record highs. Gold may move towards $5,000 per ounce in the first half of next year, while silver has the potential to reach around $90 per ounce. Furthermore, platinum and palladium have surged due to tight supply, tariff uncertainty, and rotating investment demand for gold. Year-to-date, platinum has risen approximately 165%, and palladium over 90%. Jigar Trivedi, senior research analyst at Reliance Securities, stated that platinum is supported by strong industrial demand, with US inventory holders replenishing their stocks amid sanctions-related concerns, which has helped maintain high prices. (Golden Ten)