Gold and silver are breaking record levels, surging dynamically amid the recent market chaos. Both metals have lately been targeting new price highs and have been achieving the same at a record pace, unbothered by the economic turmoils that the other assets have lately been a part of. Gold price has recently hit a new high of $3500, while silver has climbed to hit $40 in a new feat. Will this rally continue to deliver new price highs and momentum to gold and silver? Let’s find out.
Also Read: Gold Price Update: Gold Now 24% of Reserves, Dollar Falls to 1990s Low
Gold and Silver Topping Charts
The gold price is currently sitting at $3508, in a major price milestone. Silver, on the other hand, is currently trading at $40.85, already busy carving another price trajectory in the process. Per Kitco Gold Updates, the recent price swell was triggered by the Federal Reserve’s dovish comments about interest rate cuts.
“Powell showed markets that he is not overly concerned with getting inflation back down to 2%. He is now more focused on the slowdown in the economy and the labor market.” Michele Schneider, chief strategist at MarketGauge, later shared.
Moreover, the recent development that primarily triggered the metals rally was the recent dollar plunge. The sinking value of the dollar, with a possibility of a fresh rate cut in September, has driven gold and silver prices to hit new highs in the process.
“Gold and silver prices scaled record highs at auctions on Monday, bolstered by a sinking dollar and expectations of a US interest rate cut this month.” As quoted by Mohamed A. El-Erian, on X.
From the @FT:
— Mohamed A. El-Erian (@elerianm) September 1, 2025
"Gold and silver prices scaled record highs at auctions on Monday, bolstered by a sinking dollar and expectations of a US interest rate cut this month.
A gold price of $3,475 per troy ounce was set at the afternoon auction of the London Bullion Market Association,… pic.twitter.com/tbeVEUgbe0
Next Possible Target For The Metal?
According to a notable price analyst, Rashad Hajiyev, both metals are already eyeing a new, fresh high. Hajiyev stated how the gold price is looking poised to hit $3600, while silver aims to hit $46 in the near future.
“Gold to silver ratio (GTS) daily candle chartOnce GTS breaks 49-day support, there is no support until the the 78-79evel. At a $3,600 gold price, which is not far away, GTS immediate support suggests a $46 silver price.”
Gold to silver ratio (GTS) daily candle chart
— Rashad Hajiyev (@hajiyev_rashad) September 1, 2025
Once GTS breaks 49-day support, there is no support until 78 – 79 level.
At $3,600 gold price, which is not far away, GTS immediate support suggests $46 silver price… pic.twitter.com/fwEYbvcmoT
Also Read: Gold Futures Climb to New Peak on Reserve Currency Shift