Global markets have recorded the simultaneous achievement of historical highs by key precious metals. Gold, silver, and platinum have reached record price levels during today's trading.
Industry experts interpret this impulse as a troubling indicator pointing to a systemic crisis of trust in fiat currencies and the persistence of long-term inflationary risks. At the same time, participants in the cryptocurrency market are analyzing whether the current dynamics in the commodities sector can transform into an influx of liquidity into bitcoin during the year 2026.
Historical highs in gold, silver, and platinum prices
According to current market data, the price of gold has first exceeded $4500, setting a new historical record at $4526 per ounce. Meanwhile, silver quotes reached a peak of $72.7. Economist Peter Schiff noted on his social media that the asset price has risen by more than a dollar and is trading above $72.30. In his assessment, testing the $80 level is possible before the end of the current calendar year.
Significant growth is also observed in other segments of the metals market:
The peak price of platinum was recorded at over $2370 per ounce.
The price of palladium exceeded the $2000 threshold, which happened for the first time since November 2022.
The price of copper reached $12000 per ton, demonstrating the most significant annual growth since 2009.
Nick Pakrin, an investment analyst and co-founder of The Coin Bureau platform, stated in an interview with BeInCrypto that the exceptional performance of precious metals is due to a combination of factors. These include expectations for a decrease in interest rates, renewed geopolitical tensions (particularly regarding the situation in Venezuela), and investors' desire to hedge against the risks of US dollar devaluation.
Analysts' forecasts regarding macroeconomic risks
Despite the optimism of investors caused by rising prices, a number of experts believe that the current situation may hide deep problems in the global economy. Peter Schiff asserts that the dynamics of prices for gold, silver, commodities, and bonds collectively signal the US moving toward the highest level of inflation in the last 250 years.
This warning was published despite official data indicating that US GDP growth in the third quarter was 4.3%, exceeding market expectations. However, the economist urges not to trust official figures, stating that the Consumer Price Index (CPI) is being manipulated to hide the real scale of currency devaluation from the public.
Analyst Andrew Lokenaut also emphasized that the rapid rise in silver prices is rarely a positive sign. According to him, this indicates a decline in trust in political leadership and state currencies. Such market anomalies have been observed before the fall of the Roman Empire, during the French Revolution, and during the collapse of the Spanish Empire. In Lokenaut's opinion, such processes provoke a large-scale redistribution of wealth, where the less affluent population is left with depreciating paper money, while capital owners protect their savings with physical assets.
Weakening of the dollar index and the potential market reversal
Alongside the rise in metal prices, the dollar index (DXY) demonstrated significant weakening throughout 2025. By the end of the year, the index fell below the 98-point mark again. Expert Neil Sethi noted that the index closed at its lowest level since October 2.
Analyst Octavio Costa claims that the US dollar is approaching a critical turning point. At the beginning of the year, the DXY index was in a zone of historical overvaluation, after which there was a sharp decline to a support level that has been maintained for the last 15 years. Costa believes that the multiple testing of this zone in recent months indicates an inevitable downward breakout, which will have serious consequences for global financial markets.
The expert added that this situation is developing against the backdrop of tightening policies by foreign central banks, while the Federal Reserve faces the necessity of easing its stance to manage rising costs of servicing the US national debt. Historically significant budget deficits are addressed through the mechanism of financial repression, which is typically accompanied by a weakening of the national currency.
Prospects for capital inflow into Bitcoin in 2026
Despite the weakness of the US dollar, Bitcoin continues to face challenges. In 2025, the asset demonstrated a lag behind the dynamics of precious metals and tech sector stocks. The current quarter may become the worst for cryptocurrency since 2018. Many new investors currently prefer traditional safe-haven instruments over risky digital assets.
Nevertheless, there are expectations in the cryptocurrency community that the rally in the gold and silver sector may be followed by a similar movement in Bitcoin. Analyst Garrett noted that the rise in silver, palladium, and platinum is largely due to forced closure of short positions. He believes that after the start of the correction in metals, capital will begin to move into Bitcoin and Ethereum.
David Shassler, head of multi-asset solutions at VanEck, also forecasts a recovery of Bitcoin's positions in 2026. He links this to the strengthening of currency devaluation processes and the return of liquidity to the markets. Shassler emphasized that the current lag of Bitcoin from the Nasdaq 100 index is about 50% since the beginning of the year, creating potential for leading performance indicators next year. In his opinion, the current weakness reflects a temporary decline in risk appetite rather than a failure of the asset's fundamental theory.
In conclusion, Nick Pakrin added that the scenario of Bitcoin reaching new all-time highs in 2026 remains quite likely. In the coming months, markets will have to verify whether precious metals can hold the levels achieved or if profit-taking will trigger a massive capital rotation into the cryptocurrency sector.
