Gold, Silver Hit Records December 28 as Dollar Softens, Fed Cut Bets
Gold and silver prices surged to fresh records on 28 December, with gold near $4,546 per ounce and silver at $75.92. A softer dollar, rising expectations for Fed rate cuts, and safe-haven interest pushed both metals higher. Traders also pointed to Chinese supply tightness and strong industrial demand for silver, explaining its outperformance this year. For Swiss investors, the franc’s strength, access via local ETFs, and product costs matter as much as the headline moves in global benchmarks.
What powered today’s record highs
Lower US yields reduce the opportunity cost of holding non-yielding assets. That helped gold and silver prices jump as markets priced more Fed rate cuts in 2025. A weaker dollar also makes metals cheaper for non-dollar buyers, lifting demand. For background on gold’s macro drivers, see this report from Tagesschau source.
Elevated geopolitical risks continued to support flows into liquid stores of value. When global uncertainty rises, we often see gold price rally episodes extend. Silver tends to follow, though with more volatility. For Swiss portfolios, safe-haven positioning must consider CHF strength, rebalancing rules, and the mix between bullion, ETFs, and miners to keep risk aligned with goals.
Why silver outperformed gold
Silver is a key input for solar, electronics, and EV components. Traders cited firm industrial demand and pockets of Chinese supply tightness as reasons for the latest surge. That backdrop helped gold and silver prices climb together, with silver’s beta magnifying gains. A useful overview of silver’s recent strength is available here source.
Momentum can stay intact if factory activity and renewable installations remain strong. Still, silver’s volatility is much higher than gold. Pullbacks can be sharp. We think dollar trends, Fed policy, and fabrication demand will set the tone. If those stay supportive, gold and silver prices can hold elevated ranges, though sizing and stop levels matter more with silver.
Swiss investor playbook
The global benchmarks are quoted in USD, but Swiss returns depend on the CHF. If the franc appreciates, local gains can lag even when gold and silver prices rise in dollars. Investors can consider CHF-hedged share classes or partial FX hedges. Clear rules for rebalancing help lock in wins and protect against swings from currency cross-currents.
We focus on instruments with tight spreads, clear custody, and transparent fees. Swiss investors often use bank metals accounts, vaulted bullion, and local ETFs from major banks. Check total cost of ownership, including spreads, storage, and taxes. Ensure liquidity matches your needs. For larger allocations, staggered entries can manage execution risk during a fast gold price rally.
What to watch next
The path for gold and silver prices hinges on upcoming US inflation prints, labor data, and official Fed guidance on rate cuts. Watch US dollar momentum and energy prices as secondary drivers. In Switzerland, SNB policy and CHF moves can amplify or mute USD-based gains. Corporate purchasing trends in solar and electronics will also be important.
After the silver record high, sentiment is hot. We track positioning, option skews, and volatility for signs of stress. Use limit orders, avoid leverage you cannot sustain, and predefine exits. For core holdings, dollar-cost averaging and periodic rebalancing can smooth entries while keeping exposure to any ongoing gold price rally.
Final Thoughts
Gold and silver prices reached new highs on 28 December, with gold near $4,546 and silver at $75.92, as a softer dollar, expected Fed rate cuts, and safe-haven flows lifted demand. Silver’s edge reflects strong industrial needs and pockets of supply tightness. For Swiss investors, the CHF can sway local returns, so consider hedged share classes and clear rebalancing rules. We suggest a simple plan: size positions modestly, add in stages, and use limits to control slippage. Focus on liquid Swiss vehicles with transparent costs, and keep some dry powder for pullbacks. This way you stay exposed if strength continues while managing downside risk.
FAQs
A softer US dollar, rising expectations for Fed rate cuts, and safe-haven demand pushed both metals higher. Silver also benefited from strong industrial demand and supply tightness. Together, these factors lifted gold near $4,546 per ounce and silver to $75.92, setting fresh records and boosting investor interest.
Lower policy rates reduce the opportunity cost of holding metals, which do not pay interest. Rate cuts can also weaken the dollar, improving global affordability. Both effects tend to support demand. The impact is rarely linear, so positioning, data surprises, and risk sentiment can cause short-term swings.
It can be if industrial demand from solar, electronics, and EVs stays strong and the dollar remains soft. But silver is more volatile than gold, so pullbacks are common. A staged approach, tight risk controls, and patience can help manage swings while keeping exposure to potential upside.
Focus on CHF effects, fees, and liquidity. Choose trusted Swiss providers, compare total costs, and consider CHF-hedged share classes. Use limit orders and staggered entries to manage execution risk. Keep allocations modest and rebalance on schedule to capture gains and limit downside in volatile markets.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
