Gold surges close to $4,500-per-ounce mark

Gold surged close to the $4,500-per-ounce mark today, Reuters reported.

Spot gold traded as high as $4,497.55, while silver climbed to a record peak of $69.98, extending hefty gains this year, Reuters said.

Bullion has hit multiple record highs this year, underpinned by US interest rate cuts ‌and a weaker ‌dollar.

According to Reuters, analysts see further upside into next year, with Goldman Sachs forecasting gold at $4,900 by December 2026.

The dollar has slumped nearly 10% in 2025, putting it on track for its worst year in eight.

Many investors expect the currency’s decline to resume in 2026 as global growth picks up and the Federal Reserve further eases policy.