Gold and silver prices have reached record highs, with gold hitting $4,530.60 and silver $75.14 per ounce, driven by momentum and speculative trading. OANDA's Kelvin Wong attributes the rally to thin year-end liquidity, expectations of prolonged Federal Reserve rate cuts, a weaker dollar, and rising geopolitical risks. Wong forecasts gold could reach $5,000 per ounce by early 2026, with silver potentially climbing to $90. Platinum and palladium have also seen significant gains, rising about 165% and over 90% year-to-date, respectively. Jigar Trivedi from Reliance Securities highlights strong industrial demand and U.S. inventory restocking amid sanctions concerns as key factors supporting platinum prices. Investors are advised to monitor precious metals alongside altcoins for potential cross-asset movements.