Gold and silver prices hit fresh record highs

On October 14, December gold futures on New York’s Comex exchange jumped 1.2% to $4,182.4 an ounce, the highest level on record.

December silver futures rose 3.91% to $52.4 an ounce, also marking an all-time high.

The rally followed U.S. President Donald Trump’s announcement of 100% tariffs on Chinese imports starting November 1, driving investors into safe-haven assets.

Bank of America expects further gains next year, forecasting gold to average $4,400 an ounce in 2026 and reach $5,000, while silver is projected at $56.25 on average with a peak of $65.