Gold and silver prices are trading higher in the global markets, supported by strong safe-haven demand and firm investor interest across precious metals.
Gold spot (XAU/USD) is currently quoted at $5,522.59 per ounce, up $123.30 or 2.28% from the previous session. Strength is even more pronounced in futures, with COMEX 100 oz gold (February contract) trading at $5,534.00, marking a sharp $230.40 gain, or 4.34%. The surge reflects continued demand for gold amid geopolitical uncertainty and expectations of easier monetary conditions ahead.
Silver spot (XAG/USD) is also in positive territory, trading at $117.54 per ounce, up $0.96 or 0.83%. While silver’s move is relatively modest compared to gold, prices remain near record levels after an exceptionally strong rally over recent weeks.
Among other metals, platinum spot is higher at $2,732.30, gaining $36.05 or 1.34%, while palladium spot has slipped to $2,033.67, down $40.33 or 1.94%. COMEX copper is marginally lower at $5.89, easing 0.09%.
Gold prices surged sharply in global markets on Thursday, extending their record-breaking rally as investors continued to move into safe-haven assets amid rising geopolitical and economic uncertainty. Silver prices also remained elevated, trading close to historic highs after a powerful run this year.
Spot gold (XAU/USD) climbed 2.7% to $5,542.29 per ounce by 01:49 GMT, after touching an all-time high of $5,591.61 earlier in the session. Gold crossed the $5,000-per-ounce mark for the first time on Monday and has gained more than 10% this week alone.
Futures markets reflected even stronger momentum. COMEX 100-ounce gold (February contract) was trading near $5,534, registering gains of over 4%, underscoring aggressive buying interest across global bullion markets.
Analysts attributed the rally to a combination of concerns over rising U.S. debt levels, geopolitical tensions, uncertainty surrounding global trade fragmentation, strong central bank purchases, and a softer U.S. dollar. Market participants said gold is increasingly being treated as a neutral store of value amid signs that the global trade system is fragmenting into regional blocs.
Gold has already risen more than 27% so far this year, following a 64% surge in 2025. Market observers noted that gold is no longer being viewed solely as an inflation hedge or crisis asset but as a portfolio diversifier across multiple macroeconomic regimes.
Overall, bullion markets remain firm, with gold leading the gains and silver holding elevated levels as investors continue to seek refuge in precious metals.
