Key Points:
Shanghai gold and silver prices surged to fresh record highs.
Several Federal Reserve officials voiced support for additional U.S. interest rate cuts.
Analysts say easing policy could fuel further upside in gold.
Shanghai gold and silver both hit all-time highs, extending a strong rally in precious metals as investors price in looser U.S. monetary policy.
According to ChainCatcher, the surge comes after multiple Federal Reserve officials signaled support for further interest rate cuts to counter slowing growth. The dovish outlook is seen as reducing the appeal of cash holdings, prompting renewed flows into hard assets such as gold and silver.
Analysts note that with inflation still elevated, but policymakers prioritizing the labor market, precious metals may continue to see upward momentum as investors seek safe-haven and inflation-hedging assets.
The rally also mirrors global trends: spot gold recently touched record highs above $3,700, while silver has surged more than 50% year-to-date.
