Gold surpasses $4,500 and silver exceeds $76: analysts say market signals "are not normal"

Source: Yellow Original Title: Gold surpasses $4,500 and silver exceeds $76: analysts say market signals are “not normal”

Original Link: The gold and silver markets are entering uncharted territory, extending a rapid rally after the holidays that, according to analysts, reflects growing tension across the global financial system.

Gold rose to approximately $4,540 per ounce after Christmas, while silver surpassed $76 on the Comex and is trading above $80 in Shanghai, where premiums continue to widen.

Market observers note that the speed and magnitude of the movement suggest increasing concern about the macroeconomic outlook, as investors seem to seek refuge in tangible assets.

Market rally triggers alarm signals

Despite the sharp increase in prices, mining stocks have lagged behind the rally, a sign that some analysts interpret as evidence that traders remain skeptical about its sustainability.

Economist Peter Schiff argued that this hesitation could itself be a sign of underlying momentum, noting that “when the bulls don’t believe in the rally, there’s still a long way to go.”

But the disconnect between rising metal prices and moderate valuations of miners is also being interpreted as a sign that something in the market structure is under strain.

Concerns grow over supply and delivery

Supply pressures are emerging, as refineries responsible for converting 1,000-ounce bars into smaller bars demanded in Asian markets report operating at full capacity.

Some analysts warn that this bottleneck could increase the risk of delays in physical delivery.

Still, industrial buyers are expected to continue turning to available supply despite logistical limitations.

ETF manager Michael Gayed described the current environment as abnormal and warned that investors should treat these signals as cause for concern.

A move driven by systemic anxiety

Strategists say that the growing flight to precious metals reflects an erosion of confidence in overall economic stability.

Commentator NoLimit compared the current situation to patterns observed before previous crises, including the dot-com bubble burst, the 2007 financial collapse, and the 2019 repo shock, all preceded by a flight to defensive assets.

Some analysts now believe that the trajectory of metals could become even more pronounced.

Jim Rickards recently projected that gold could eventually reach $10,000, and silver could hit $200 by 2026 if current pressures continue to extend across global markets.