Gold records new peaks… and silver breaks the $90 barrier for the first time

Gold continued its rise on Wednesday to record new highs, while silver achieved a historic achievement by exceeding the $90 barrier for the first time ever. This momentum is driven by lower-than-expected US inflation data, which has strengthened expectations of lower interest rates, amid ongoing geopolitical uncertainty.

After hitting a peak of $4,634.33 on Tuesday, gold continued its upward momentum to breach new levels at $4,639.28. US futures also rose to $4,635.60.

Spot silver also jumped by 4.6 percent to reach $90.95 per ounce after breaching the historic $90 barrier, recording amazing gains of 28 percent in just the first two weeks of 2026.

It rose by 4.7 percent to reach $2,432.80 an ounce.

Brian Lane, Managing Director of Gold Silver Central, said that the positive data represented by the decline in inflation and unemployment rates in the United States was the main driver for precious metals, expecting that the next target for silver would be the $100 barrier.

In a related context, data on the core consumer price index in the United States showed growth of 0.2 percent per month and 2.6 percent annually, which was below analysts’ expectations, giving investors a green light to bet on a rate cut.

US President Donald Trump welcomed the inflation numbers and renewed his pressure on Federal Reserve Chairman Jerome Powell to reduce interest rates “significantly.”

This coincided with a wave of international support for Powell from central bank presidents and Wall Street executives, in response to the Trump administration’s decision to investigate him, which raised concerns about the Fed’s independence and confidence in American assets, which increased demand for gold as a “safe haven.”

Economic factors were not the only driver, as unrest in Iran plays a fundamental role. President Trump urged Iranians to continue their protests, stressing that “help is on the way,” at a time when Iran is witnessing the largest demonstrations in years, which enhances the attractiveness of precious metals that usually flourish in periods of political instability and low interest rates.