"Gold has been on a tear since last summer, repeatedly breaking records. It has risen by more than a quarter this month and hit a new high of just under $5,595 (4,060) an ounce on Thursday. It dropped sharply later in the day to $5,250 (3,810) as speculation swirled about possible US action in Iran; but that remains almost double the price when Donald Trump's second term in the White House kicked off a year ago."
"Silver, meanwhile, was trading below $30 (22) an ounce when the president prepared to announce his liberation day tariffs last April, but has since almost quadrupled in price, to more than $118 (86) an ounce, with the most rapid run-up coming in the last month. Giuseppe Sersale, strategist at Italy's Anthilia, said the market has all the hallmarks of a mania, describing recent price moves as parabolic."
Gold and silver have surged sharply in 2026, with gold more than doubling since the start of Donald Trump's second term and reaching a peak near $5,595 an ounce before intraday volatility. Silver rose from below $30 an ounce last April to over $118, nearly quadrupling, with the fastest gains in the past month. Market strategists describe recent moves as parabolic and exhibiting mania characteristics. The administration's aggressive policies—punitive tariffs, threats of military actions, and pressure on the Federal Reserve including a criminal case against its chair—have driven investors toward precious metals as safe havens. Analysts warn that undermining Fed independence could further boost prices.
Read at www.theguardian.com
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