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Gold and silver soared to all-time highs, as escalating geopolitical tensions and bets on further US rate cuts added momentum to the best annual performance in more than four decades.Bullion climbed as much as 2.1% to surpass the previous record of $4,381 an ounce set in October, while silver rallied as much as 3.4%, closing in on $70 an ounce. The move extends a blistering rally that has put both metals firmly on course for their strongest annual performance since 1979.The latest push higher comes as traders bet that the Federal Reserve will cut interest rates twice in 2026, and as US President Donald Trump also advocates for looser monetary policy. Lower rates are typically a tailwind for precious metals, which don’t pay interest.Rising geopolitical tensions are also enhancing the haven appeal of gold and silver. The US has intensified an oil blockade against Venezuela, stepping up pressure on the government of President Nicolás Maduro, while Ukraine attacked an oil tanker from Russia’s shadow fleet in the Mediterranean Sea for the first time.“Today’s rally is largely driven by early positioning around Fed rate-cut expectations, amplified by thin year-end liquidity,” said Dilin Wu, a strategist at Pepperstone Group Ltd. Sluggish jobs growth and softer-than-expected US inflation in November supported the narrative for more rate cuts, she said.Gold has surged by more than 65% this year, underpinned by increased central-bank purchases and inflows into bullion-backed exchange-traded funds. Trump’s aggressive moves to reshape global trade — as well as his threats to the US central bank’s independence — added fuel to the scorching rally earlier this year.Investors have also played an important role in gold’s ascent, spurred in part by the so-called debasement trade — a retreat from sovereign bonds and the currencies they are denominated in over fears their value will erode over time due to ballooning debt levels. Gold-backed ETFs have seen inflows rise over the last four straight weeks, according to data compiled by Bloomberg, and World Gold Council figures show total holdings in these funds have risen every month this year except May.Other precious metals also surged, with palladium rallying as much as 5.1% to hit the highest in nearly three years. Platinum rose for an eighth straight session and traded above $2,000 for the first time since 2008.Gold has bounced back quickly after a retreat from its peak in October, when the rally was seen as crowded and overheated, and is now positioned to carry these gains into next year. Goldman Sachs Group Inc is among several banks who predict prices will keep rising in 2026, issuing a base-case scenario of $4,900 an ounce with risks to the upside. ETF investors, it said, are starting to compete with central banks for limited physical supply.Central-bank buying, physical demand and geopolitical hedging were “medium- to long-term anchors, while Fed policy and real rates continue to drive cyclical swings,” according to Pepperstone’s Wu. New entrants to the gold market, such as stablecoin issuers like Tether Holdings SA and certain corporate treasury departments, were creating a “broader capital base” that “adds resilience to demand,” she said in a note.Silver’s recent advance has been buoyed by speculative inflows and lingering supply dislocations across major trading hubs following a historic short squeeze in October. The total trading volume for silver futures in Shanghai spiked earlier this month to levels near those seen during the crunch a couple of months ago.Platinum — which has rallied about 125% this year — has risen with added speed in recent days as the London market shows signs of tightening. Banks are parking more metal in the US to insure against the risk of tariffs, while exports to China have been robust as demand grows and contracts begin trading on the Guangzhou Futures Exchange.The main factors affecting the market were the prospect of more rate cuts and “geopolitical concerns, particularly around Ukraine and the Trump administration’s recent national security strategy,” said Nicholas Frappell, global head of institutional markets at ABC Refinery in Sydney, adding that Japan-China tensions and the situation in Venezuela were also supporting gold. 

Christo Popov became the first French player to reach the title match at the World Tour ‌Finals where he faces world champion Shi Yuqi ‌Saturday, while Paris ‍Olympics gold medallist An Se-young set up a women's showpiece clash ⁠with holder Wang Zhiyi.Popov, making ⁠his tournament debut as a singles player, overwhelmed Japan's ‍Kodai Naraoka with his speed and power to win 21-19 21-8 in the semi-finals in Hangzhou."The first game was very important, being very long and winning that made me confident for the second game, and I got more aggressive," Popov said."One thought was ‌getting out of the group stage, which would be a huge thing for me. Now I’m into the final, so ‍I'm happy."Popov is trying to ⁠become the ‌third European to clinch the men's singles title after Danes Anders Antonsen and Viktor Axelsen, with the latter winning a record three times.China's Shi, who is looking to equal Axelsen with a third straight World Tour Finals title, beat Thai world number one Kunlavut Vitidsarn 21-16 21-13 in the second semi-final.In the women's semis, South Korean An took just 38 minutes to beat Japan's Akane Yamaguchi 21-15 21-12.Bidding ​for a second title ‌at the season-ending championships, An came at the world champion with power and ⁠pace but Yamaguchi ‍repelled the attacks with pinpoint accuracy from the front court.An's pressure eventually told, however, and she kept Yamaguchi off balance to take the match with quick rallies.In the second women's semi-final, Wang, 25, dropped the first game to Ratchanok ​Intanon, who caused the Chinese player all sorts of problems with the variety of her shots.The Thai defended well on the back court but Wang ticked up the aggression to take the second game.Wang's superior fitness began to tell in the third as the 30-year-old Ratchanok tired and the Chinese player emerged with a 15-21 21-17 ⁠21-11 victory to reach the final. (Reporting by Karan Prashant Saxena and Chiranjit Ojha in Bengaluru; Editing by Peter Rutherford ) 

Qatar Chamber’s Gold Committee held a meeting Tuesday to review several inquiries submitted by members concerning the import of gold, silver, and jewellery. Qatar Chamber board member Naser bin Sulaiman al-Haider, who is also committee chairman, presided over the meeting held at the chamber’s Lusail headquarters.**media[388832]**During the meeting, Abdullah Jassim Haji, head of the Customs Value Department, delivered a presentation on gold import procedures and highlighted the challenges facing companies and factories operating in the gold and jewellery sector. Haji said the Customs Value Department is keen on strengthening co-operation between the private sector and the General Authority of Customs (GAC), and to facilitate procedures related to the import of precious metals, thereby supporting the growth and competitiveness of Qatar’s gold and jewellery industry. The meeting was attended by representatives from the GAC, including Ali Mohammed al-Marri, assistant director of the Exemptions Department; and Salah Abdul Samee, expert at the Customs Policies and Procedures Department.

Gold prices in the Qatari market increased by 1.99 percent this week, to stand at USD 4,147.18000 per ounce on Thursday.Qatar National Bank (QNB) data showed that the price of gold rose from USD 4,066.40000 recorded last Sunday.As for other precious metals, silver rose by 5.70 percent on a weekly basis to reach USD 52.92000 per ounce compared to USD 50.06810 at the start of the week. Platinum increased by 7.01 percent to USD 1,626.40000 per ounce compared to USD 1,520.00 at the beginning of the week. 

China produced 271.78 tonnes of gold in the first nine months of 2025, an increase of 1.39% from the same period last year, data from the China Gold Association has shown.From January to September, gold consumption in the Chinese market fell 7.95% year on year to 682.73 tonnes, according to the association.During this period, consumption of gold jewelry stood at 270.04 tonnes, down 32.5% year on year, while that of gold bars and coins rose by 24.55% to 352.12 tonnes. Gold use for industrial and other purposes amounted to 60.58 tonnes, up 2.72%.The association said the performance of different gold product segments varied during this time. Light-weight, high value-added jewelry continued to draw strong consumer interest. Purchases of gold bars remained robust, with rising geopolitical tensions and economic uncertainty reinforcing gold's appeal as a safe-haven asset.At the same time, the fast expansion of industries such as electronics and new energy helped lift industrial demand for gold, it added.It also noted that gold-backed exchange-traded funds in the Chinese market saw strong growth momentum during this period.

The price of gold in the Qatari market declined by 0.40 percent over the past week, reaching USD 3,986.49 per ounce, according to data released by Qatar National Bank (QNB).QNB data showed that the price of gold decreased from USD 4,002.78 recorded last Sunday.As for other precious metals, silver fell by 1.02 percent on a weekly basis to reach USD 48.20 per ounce, down from USD 48.70 at the start of the week. Platinum declined by 0.82 percent, reaching USD 1,563.02 per ounce, compared to USD 1,576.10 at the beginning of the week.

Gold prices rose on Wednesday, as bargain hunters stepped in after bullion dropped to a near one-week low in the previous session, while focus was also on the US private payroll data for cues on future interest rate cuts.Spot gold rose 0.8% to $3,961.85 per ounce. Bullion fell more than 1.5% on Tuesday, hitting its lowest since Oct. 30.US gold futures for December delivery rose 0.2% to $3,970.10 per ounce.Bullion hit a record high of US$4,381.21 on Oct. 20, but has fallen close to 10 percent since then.Elsewhere, spot silver rose 1.2 percent to US$47.68 per ounce, platinum gained 0.1 percent to US$1,537.10, and palladium climbed 0.2 percent to US$1,394.75.

Gold prices declined on Monday, weighed down by a stronger US dollar as investors scaled back expectations for further Federal Reserve interest rate cuts following hawkish remarks by Chair Jerome Powell last week. Easing US-China trade tensions also pressured bullion.Spot gold fell 0.8% to $3,968.76 per ounce, while US gold futures for December delivery slipped 0.5% to $3,978.30 per ounce. The US dollar held firm near its three-month high reached last week, making the greenback-priced metal more expensive for holders of other currencies.The US Federal Reserve cut interest rates on Wednesday by 0.25 percentage point, marking its second rate cut this year, bringing the benchmark overnight rate to a target range of 3.75%-4.00%. Among other precious metals, spot silver dropped 0.5% to $48.41 per ounce, platinum eased 0.1% to $1,566.40, and palladium declined 0.6% to $1,424.88.

Qatar National Bank (QNB) expects further upside for gold over the medium and long term, despite the sharp rally in recent months and the significant risks of short-term corrections.In its Weekly Economic Commentary, QNB stated that consensus among leading research houses suggests gold prices are likely to remain well supported at around USD 4,000 per troy ounce, with an estimated upside of 10–15% over the next twelve months.Gold has once again proven its value in providing robust returns during periods of global uncertainty. In fact, it has been one of the standout global asset classes in recent years, consistently demonstrating remarkable resilience. Since the post-pandemic normalization in 2022, gold prices have gained around 105%, significantly outperforming most global benchmarks, including equities, bonds, and commodities.This broad-based outperformance underscores gold’s unique position as both a store of value and a macro hedge in an era defined by three converging structural forces: strong global growth in money supply, geopolitical fragmentation, and central bank reserve diversification.Since the onset of the pandemic, an unprecedented expansion of fiscal and monetary policy has undermined confidence in the stability of currencies in major advanced economies. At the same time, a series of geopolitical shocks — from the U.S.-China strategic rivalry to conflicts in Eastern Europe — have fueled demand for safe and jurisdictionally neutral assets. Furthermore, the steady accumulation of gold by emerging market central banks, often as a deliberate strategy to reduce dependency on established reserve currencies, has added a new layer of sustained, price-insensitive demand.Gold appears “fairly” priced, if not undervalued, against USD money supply (M2). Since the Bretton Woods agreements of 1944, which established the post-Second World War economic order, the USD long-term price of gold has tended to move directionally in line with M2 growth. Much of the recent upward movement in gold prices could therefore be seen as a catch-up following a long period of undervaluation since 2010, combined with continued strong USD issuance. Current prices would still need to rise by approximately 34% to reach QNB’s modeled fair value. Importantly, M2 has been accelerating in recent years, growing at a compound annual rate of 7.5%. In other words, there are no clear signs of overvaluation, and one of the main drivers of prices — USD issuance — continues to expand rapidly.Positioning by both central banks and private investors in gold also suggests further potential for price appreciation. Geopolitical fragmentation continues to amplify gold’s appeal as a jurisdictionally neutral asset outside the reach of financial “weaponization.”According to the World Gold Council, following the outbreak of the Russia-Ukraine conflict in 2022, central banks’ additional demand for gold more than doubled — from around 450 tons per year to over 1,000 tons per year. Despite this increase in official demand, there remains considerable room for a longer-term accumulation trend. While large advanced economies tend to hold around 25% of their foreign exchange (FX) reserves in gold, major emerging-market central banks hold less than 12% of their FX reserves in the metal.

The price of gold in the Qatari market declined by 4.39 percent over the past week, reaching USD 3,931.97000 per ounce, according to data released by Qatar National Bank (QNB). QNB data showed that the price of gold decreased from USD 4,112.68700 recorded last Sunday.As for other precious metals, silver fell by 2.28 percent on a weekly basis to reach USD 47.52000 per ounce, down from USD 48.63250 at the start of the week. Platinum fell by 1.18 percent, reaching USD 1,594.60000 per ounce, compared to USD 1613.80040 at the beginning of the week.

Gold prices edged lower on Thursday, weighed down by a firmer dollar as investors looked forward to key US inflation data later this week for more cues on the interest rate path. Spot gold slipped 0.3% to $4,082.95 per ounce, while US gold futures for December delivery rose 0.8% to $4,097.40 per ounce. Prices have surged about 56% since January, touching an all-time high of $4,381.21 per ounce on Monday. The rally has been driven by a mix of economic uncertainty, expectations of interest rate cuts, and strong buying by central banks across the world. Spot silver fell 0.4% to $48.31 per ounce, extending its decline after reaching record highs earlier this month. Platinum slipped 1.4% to $1,598.65 per ounce, while palladium also dropped 1.4% to $1,438.47 per ounce.

Gold prices extended their decline on Wednesday amid profit-taking following recent record highs, as investors awaited key US inflation data this week for further indications on the Federal Reserve's potential path toward interest rate cuts. Spot gold fell 0.3% to $4,113.54 per ounce, after plunging more than 5% on Tuesday — its sharpest daily drop since August 2020. Meanwhile, US gold futures for December delivery rose 0.5% to $4,129.80 per ounce. Despite the recent correction, gold prices have surged about 56% so far this year, hitting an all-time high of $4,381.21 on Monday. The rally has been driven by heightened geopolitical and economic uncertainty, growing expectations of interest rate reductions, and sustained central bank demand for the yellow metal. Among other precious metals, spot silver fell 0.9% to $48.29 per ounce, platinum dropped 1.1% to $1,534.44, while palladium was steady at $1,406.76 per ounce.