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Gold tops $4,500 with silver and platinum also reaching all-time peaks

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Gold tops ,500 with silver and platinum also reaching all-time peaks


Gold bars and coins are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany. — Reuters/File
  • Gold rises 0.1% to $4,492.51 with record high of $4,525.19.
  • Silver gains $72.27 touching all-time peak of $72.70.
  • Thin year-end liquidity exaggerats recent price moves.

Gold surged past the $4,500-an-ounce mark for the first time on Wednesday, while silver and platinum also scaled record highs, as investors piled into precious metals on safe-haven demand and expectations that US interest rates will fall further next year.

Spot gold rose 0.1% to $4,492.51 per ounce by 0359 GMT, after touching a record high of $4,525.19 earlier in the session. US gold futures for February delivery climbed 0.3% to a record high of $4,520.60.

Silver gained 1.2% to $72.27 an ounce, after hitting an all-time peak of $72.70 earlier, while platinum jumped 3.3% to $2,351.05 after rising to a historic high of $2,377.50.

Palladium climbed almost 2% to $1,897.11, its highest level in three years.

“Precious metals have become more of a speculative narrative around the idea that, with de-globalisation, you need an asset that can act as a neutral go-between, without sovereign risk particularly as tensions between the US and China persist,” said Ilya Spivak, head of global macro at Tastylive.

Thin year-end liquidity exaggerated recent price moves but the broader theme was likely to endure, with gold targeting $5,000 over the next six to twelve months and silver potentially pushing toward $80 as markets respond to key psychological levels, Spivak added.

Gold has surged more than 70% this year, its biggest annual gain since 1979, driven by safe-haven demand, expectations of US rate cuts, robust central-bank buying, de-dollarisation trends and ETF inflows, with traders pricing in two rate cuts next year.

Silver has jumped more than 150% over the same period, outpacing gold on strong investment demand, its inclusion on the US critical minerals list and momentum buying.

Gold and silver have “been hitting the accelerator pedal this week” with fresh record highs, reflecting their appeal as stores of value amid expectations of lower US rates and lingering global debt, said Tim Waterer, chief market analyst at KCM Trade.

Platinum and palladium, primarily used in automotive catalytic converters to reduce emissions, have surged this year on tight mine supply, tariff uncertainty, and a rotation from gold investment demand, with platinum up about 160% and palladium gaining more than 100% year to date.

“What we’re seeing in platinum and palladium is largely catch-up,” Spivak said adding that the thin nature of those markets leave them vulnerable to sharp swings, even as they broadly track gold, once liquidity returns.





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Gwyneth Paltrow admits being conscious of marking comeback with ‘Marty Supreme’

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Gwyneth Paltrow admits being conscious of marking comeback with ‘Marty Supreme’


‘Marty Supreme’ is set to release on December 25

Gwyneth Paltrow has been away from the big screen since her last film Avengers: Endgame in 2019.

After seven years, the actress is all set to mark her comeback to Hollywood with upcoming sports-based film Marty Supreme alongside Timothee Chalamet.

While talking about returning to the big screen, Paltrow confessed that she had doubts if she will be able to act the same way she did before or not.

In an interview she said, “Acting is so weird. It’s so hard to explain how you do it. It’s not a skillset that… it’s not a trade that you learn, and you get onboarded into how to do something.”

Gwyneth opened that she was conscious about acting as she was out of practice considering her years long break.

During the chat on Entertainment weekly’s The Awardist podcast, the Iron Man actress added, “It’s so weird and ephemeral and kind of magic. So I was like, how did I used to do this? And am I still going to be able to do this? Am I going to be able to access all that stuff and energy and in the moment?”

Directed by Josh Safdie, Marty Supreme is based on the 1950s young man named Marty Mauser, who pursues his dream of becoming a table tennis champion. 

It is slated to release in theatres globally on December 25. 





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The Kid LAROI sets record straight on ‘Stay’ songwriting credits

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The Kid LAROI sets record straight on ‘Stay’ songwriting credits


The Kid LAROI sets record straight on ‘Stay’ songwriting credits

The Kid LAROI finally put the longstanding debate on Stay songwriting credits to rest.

The Aussie pop star addressed the confusion that Charlie Puth wrote the lyrics of his 2021 smash 2021 duet with Justin Bieber.

During The Road to Before I Forget Twitch stream on Tuesday, December 23, the 22-year-old debunked the misconceptions, revealing that it was he himself and Bieber, 31, who wrote their own verses.

“I wrote every single lyric on that song apart from Justin’s verse,” the Too Much rapper set the record straight once and for all. “Justin wrote every lyric of his verse. There’s been some, like, misinterpretation somewhere along the line that the song was pitched to us.”

“People think Charlie [Puth] wrote the song and gave it to us. That didn’t happen. I wrote every single lyric of that punch-in style.” he clarified.

The Kid LAROI sets record straight on ‘Stay’ songwriting credits

For the unversed, in a 2022 SiriusXM interview, Puth, who co-produced Stay, explained how he constructed the chords for the single.

However, some netizens took his statement as if the See You Again singer’s explanation means that he wrote the entire song without input from LAROI, whose real name is whose real name is Charlton Kenneth Jeffrey Howard or the Baby hitmaker.

“I definitely did get bummed when I started seeing people say I didn’t write [Stay] because I was so proud of that,” the Australian musiican expressed frustration on-stream for not getting the credit for something he is genuinely proud of. “I was 17 years old. And I’m still so proud of that. That’s an accomplishment and something to be proud of. … Like, ‘Damn, people think that this song was just given to me?’ That’s so crazy.”

He acknowledged other people’s contributions, emphasising that it was a collaborative effort.

At the same time, LAROI clearly conveyed that he personally wrote every lyric on the song except Bieber’s verse.





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Kate Hudson regrets turning down role in Tobey Maguire ‘Spider-Man’ ?

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Kate Hudson regrets turning down role in Tobey Maguire ‘Spider-Man’ ?


Kate Hudson regrets turning down role in Tobey Maguire ‘Spider-Man’ ?

Kate Hudson got candid about one of her career “what ifs,” turning down a role in the original Spider-Man film.

The Oscar-nominated actress recently confirmed once and for all that she was offered a part in the first installment of Sam Raimi’s webslinger franchise.

While reading a fan-submitted question on Watch What Happens Live! on Monday, December 22, host Andy Cohen asked, “Did you really turn down the role of Mary Jane Watson in Spider-Man, and do you regret it?”

“Yes, I did,” the Almost Famous star replied. “Now when I look back, it’s one of those things where I’m like, ‘That would have been nice to be in the Spider-Man movie.'”

However, she explained that passing on the role led her to a different opportunity, which she treasured a lot.

“At the same time, I did a movie called The Four Feathers. I got to meet Heath Ledger, who became a very good friend, and I had an experience I never would have had otherwise,” the 46-year-old actress and singer said. “So part of me feels like life happens exactly the way it’s supposed to, and I’m grateful for it.”

She admitted there’s a small part of her that wonders what might have been.

“I do look at that and think, ‘Aww, it would have been fun to be her,'” Hudson added.

When Cohen pointed out that the role would have meant appearing in not just one film but an entire trilogy, she responded, “I know, I know!”

What role Kate Hudson was asked to play in Spider-Man?

Hudson was reportedly offered the part of Mary Jane Watson in Raimi‘s 2002 film, but she turned it down, and Kirsten Dunst was eventually cast a month before filming began.

Dunst, 43, went on to play the role in all three movies alongside Tobey Maguire as Peter Parker/Spider-Man in that trilogy.





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