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Spot gold smashed through $4,710 per ounce while silver jumped more than 6%, extending a months\u2011long precious\u2011metals rally that is now outpacing most risk assets and reopening the gold\u2011versus\u2011Bitcoin safe\u2011haven debate.<\/p>\n
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Spot gold pushed through the $4,710 mark on Wednesday, with data from\u00a0Gate<\/a>\u00a0showing prices around $4,709.08 per ounce, up 3.38% on the day. Spot silver outpaced the yellow metal, trading near $77.46 per ounce for a 6.43% daily gain, as the precious metals rally broadened across the complex.<\/a><\/p>\n External trackers confirm that gold has been grinding higher for months, with\u00a0GoldPrice.org<\/a>\u00a0recently placing spot around $4,628 per ounce and noting a gain of more than $1,200 over the past year. Silver prices have also rocketed from the low\u2011$30s to the mid\u2011$70s in under twelve months, according to\u00a0Fortune<\/a>.<\/p>\n Analysts point to a familiar macro cocktail behind the move: sticky inflation expectations, growing conviction that the Federal Reserve will eventually have to cut rates, and a series of geopolitical flare\u2011ups that keep safe\u2011haven demand elevated. A late\u20112025\u00a0Yahoo Finance<\/a>\u00a0analysis highlighted how gold rallied more than 60% year\u2011to\u2011date, easily outpacing the S&P 500 and even beating Bitcoin during a period of heightened macro stress.<\/a><\/p>\n Those dynamics are now colliding with structural demand. Industry data from the\u00a0World Gold Council<\/a>\u00a0shows central banks have been net buyers of gold for several years, while silver continues to benefit from both investment demand and industrial use in solar, EVs, and electronics.<\/p>\n