Worried about the latent risk of US regional banks, gold prices are expected to hit the largest weekly increase in 5 years
2025-10-16 23:03:01
Gold and silver both hit record highs in early trading as heightened concerns about the quality of credit in the economy and the trade situation drove up demand for safe havens. At the same time, investors are also betting that the Federal Reserve may implement unconventional interest rate cuts this year. Gold prices briefly rose to $4,380 on Friday, putting it on track for its biggest weekly gain since 2020 and extending a sharp rally since August. The buying frenzy also spread to other precious metals, with silver briefly rising to a record high of $54.3775. The broader market took a hit as two regional US banks disclosed loan problems involving fraud allegations, adding to fears of more holes in borrowers' creditworthiness and boosting demand for safe-haven assets such as gold and silver.
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