Gold rockets to record high $4,116, up 56% this year amid geopolitical and economic uncertainties

Gold prices rocketed to a record all-time high at $4,116.77 late on 13 October amid high geopolitical tensions, economic uncertainties, and United States Federal Reserve cues.

Spot gold was up 2.2% to $4,106.48 per ounce, as of 01:47 pm ET (1747 GMT), after hitting a record $4,116.77, according to a Reuters report.

US gold futures for December settled 3.3% higher at $4,133.

What about other precious metals?

• Spot silver rose 3.1% to $51.82, touching a record high of $52.12 earlier in the session.
• Silver rose due to similar factors as gold. As per the report, the technical indicators show both are overbought, with the Relative Strength Index (RSI) at 80 for gold and 83 for silver.
• Platinum rose 3.9% to $1,648.25.
• Palladium gained 5.2% to $1,478.94.

Gold is on a growth trajectory, up 56% in 2025

On 13 October, gold broke through $4,100 per ounce for the first time. This came amid escalating tensions between the US and China, and expectations of Fed interest rate cuts.

So far in 2025, gold has climbed 56%, achieving the $4,000 milestone mark for the first time last week.

Are experts predicting gold rates to increase further?

Phillip Streible, chief market strategist at Blue Line Futures, told Reuters he expects gold to keep rising due to steady central bank purchases, ETF inflows, trade tensions and a possible rate cut.

“Gold could easily continue its upward momentum. We could see prices north of $5,000 by the end of 2026,” he said.

This outlook is widely shared, as analysts at Bank of America and Societe Generale also now expect gold to reach $5,000 in 2026, while Standard Chartered has raised its forecast to an average of $4,488 next year.

“This rally has legs in our view, but a near-term correction would be healthier for a longer-term uptrend,” Suki Cooper, global head, commodities research at Standard Chartered Bank, cautioned.

(With inputs from Reuters)