Precious Metals Bonanza: Gold Soars to Record High as Silver & Platinum Rally Amid Global Uncertainty
Gold poured into the market in late Sep 2025, with bullion hitting record highs as investors sought safety. Precious metals markets exploded higher on Sep 29–30. Spot gold jumped about 2% on Monday to near $3,831/oz mining.com, eclipsing its prior peak by roughly $50. Gold futures on NYMEX climbed ~1.3% to $3,893.50 on Sep 29 armenpress.am. Traders cited a weaker U.S. dollar and safe-haven buying ahead of a federal funding deadline as key drivers mining.com sharecafe.com.au. Silver and platinum-group metals followed suit: silver futures moved to about $47.26/oz and platinum to $1,638/oz armenpress.am. In fact, this marked roughly the sixth straight week of gold gains sharecafe.com.au. Exchange-traded funds backed by precious metals saw heavy inflows, underscoring strong investor demand sharecafe.com.au. Alongside gold, silver’s surge was notable – up ~60% year-to-date – driven by tight supply and industrial use mining.com. Platinum and palladium prices rose on severe market tightness; lease rates for all three spiked far above normal as inventories dwindle mining.com. JPMorgan and Goldman Sachs have publicly forecast that if the current trend continues, bullion could climb much higher mining.com. US futures and international markets closed out the quarter with gold on track for a third consecutive quarterly gain, reflecting