Gold Hits 38th Record High As Bull Market Accelerates

Nine months into 2025, the precious metal has already logged its 38th all-time high of the year, extending one of the strongest rallies since the late 1970s.

On Monday, Gold prices crossed $3,800 an ounce for the first time ever, marking an extraordinary $1,200 gain in the space of just 12 months.

The rally, up more than 45% year-to-date, has been fuelled by a weaker dollar, expectations of further Federal Reserve rate cuts and unprecedented demand from central banks and institutional investors. Analysts at The Gold & Silver Club (GSC) – who declared 2025 “The Year of Gold” back in January – now argue the move to $5,000 is not only plausible but increasingly probable.

Fed Cuts Fuel the Fire

The Federal Reserve is on the cusp of opening the liquidity floodgates. After September’s inflation data came in line with forecasts, traders are currently pricing in a 90% probability of a rate cut in October and a 65% chance of an additional move in December.

The OECD has gone further, projecting that the Fed has scope for at least three more cuts as the economy slows under the weight of trade tariffs. It sees policy rates sliding to the 3.25–3.5% range by spring 2026, with U.S growth cooling from 1.8% next year to 1.5% the year after.

Lower rates weaken the dollar and diminish the appeal of bonds – a backdrop in which Gold has historically delivered outsized gains.

Supercycle 2.0: $5,000 No Longer Extreme

“We are witnessing the early stages of Commodities Supercycle 2.0 – and gold is the flagship trade,” GSC analysts wrote this week. “A breakout to $5,000 should no longer be viewed as extreme, but as inevitable.”

The comparison with the 1976–1980 bull market is hard to ignore: back then, Gold quadrupled in value. With central banks hoarding bullion, supply deficits widening and institutional demand surging, history may be about to rhyme – on an even bigger scale.

Money Flooding Into Metals

ETF inflows tell the story. September alone saw a record $10.5 billion enter Gold funds, taking year-to-date inflows past $50 billion. Global holdings have risen every month this year, expanding by over 400 tonnes. Futures markets show traders positioning for a violent break above $4,000 an ounce, with momentum primed to carry prices rapidly higher.

Meanwhile, the U.S Treasury’s Gold reserves have ballooned to over $1 trillion in value, sparking speculation of a mark-to-market revaluation that could unleash hundreds of billions of dollars in latent wealth.

Silver and Platinum Join the Rally

Gold is not rallying alone. Silver prices vaulted above $47 an ounce on Monday – their highest level in 14 years – extending a blistering rally that has lifted the metal more than 55% in 2025. Platinum has surged even further, breaching $1,600 an ounce for the first time since 2013 and climbing 64% year-to-date, outpacing both Gold and Silver.

A Generational Opportunity

Wall Street consensus is converging around the view that Q4 2025 will be remembered as the quarter when precious metal prices broke into uncharted territory. For traders, the opportunity is asymmetric, generational and unfolding in real time.

Gold at $5,000 is no longer a bold prediction – it is a high-conviction call. The only question is whether you will seize it before the breakout leaves you behind?