Precious metals prices continue to surge on the Comex exchange, a division of NYMEX, with gold and silver setting new all-time highs, according to trading data.
As of 6:12 p.m. Moscow time, silver prices rose nearly 4% to $100.18 per troy ounce. At the same time, February gold futures were trading at $4,956.2 per ounce, up around 0.9%.
Later in the session, gains accelerated. By 7:31 p.m. Moscow time, March silver futures climbed almost 5% to $101.165 per ounce, marking the metal’s second record high within 90 minutes. Gold futures also strengthened, with February contracts reaching $4,989.9 per ounce, setting a new historical peak.
According to Alexander Bakhtin, investment analyst at Garda Capital, gold prices in 2026 could be supported by expectations of interest rate cuts by the US Federal Reserve. A potential weakening of the US dollar, he noted, would typically improve the performance of dollar-denominated commodities.
At the same time, Bakhtin cautioned that no asset rises indefinitely. He pointed to elevated correction risks, particularly if global geopolitical tensions ease, and emphasized that current gold prices are more than three times higher than production costs.
