Gold Price Surges Past $3,800; Silver Nears 14-Year High on Fed-Cut and Shutdown Fears
Gold and silver continue to ride a historic rally as investors seek safe assets amid uncertainty. By early Sept 30, spot gold hovered around $3,800/oz, having eased off record highs hit earlier in the week reuters.com reuters.com. U.S. gold futures traded near $3,828 reuters.com. The metal’s surge accelerated on Sept 29 – gold briefly spiked to $3,833.37/oz reuters.com before a slight pullback. Silver also climbed sharply, reaching about $46.85/oz on Sept 29 reuters.com and remaining near the mid-$40s the next day reuters.com. Platinum touched a 12-year high around $1,593 on Sept 29 reuters.com, while palladium and other metals are well above earlier-year levels. These prices mark huge moves year-to-date: gold has nearly doubled since late 2022 reuters.com and is up roughly 40–45% in 2025 reuters.com. Silver is likewise skyrocketing – up roughly one-third since January 2025 reuters.com and more than 50% from early-year lows. In September alone, bullion set fresh records and enjoyed its best monthly gain since mid-2020 reuters.com.
