Precious Metals Rally as Inflation Data Fuels Rate Cut Hopes

Gold prices neared a record high and silver surpassed $90 per ounce, driven by lower-than-expected U.S. inflation data. This has strengthened expectations for U.S. Federal Reserve interest rate cuts later this year. Geopolitical uncertainty and concerns about Federal Reserve independence also contributed to increased demand for precious metals as safe-haven assets. Analysts anticipate further gains for silver, with $100 being a potential target.