The precious metals market continues to exhibit remarkable strength, with silver achieving a new all-time high and gold advancing toward its own record levels. This sustained momentum reflects both technical pattern confirmation and fundamental support from persistent U.S. dollar weakness, creating a compelling narrative for investors monitoring these traditional safe-haven assets.

Gold futures reversed earlier losses following the Federal Reserve's 25-basis-point rate cut announced at 2:00 PM ET. The yellow metal surged $35 in the hour after the decision, reaching an intraday high of $4,268. Although prices retreated from that peak, gold continued trading firmly above $4,250, last seen at $4,257—up $20.40 or 0.49% on the day.

Both gold and silver are trading moderately higher today as traders position themselves ahead of the Federal Reserve's highly anticipated monetary policy decision, scheduled for announcement at 2:00 PM EST Wednesday following the conclusion of this month's FOMC meeting.

Silver traded near its all-time high on Monday, supported by the strongest weekly inflows to exchange-traded funds since July. The precious metal has nearly doubled in value this year, with most gains concentrated in the past two months, while gold traded relatively flat.

Friday's economic data releases reinforced market expectations for monetary policy easing while precious metals continued their divergent trajectories, with silver challenging record highs even as gold retreated from recent gains.

Inflation Data Meets Expectations

Market participants continue to parse through conflicting employment data from November, as divergent signals from multiple labor market indicators have created uncertainty heading into next week's Federal Reserve policy meeting.

Both gold and silver opened December with a bang as silver surged to a new nominal all-time high above $58 per ounce, while gold recovered from profit-taking to consolidate near $4,232 positioning both metals for potential further gains ahead of next week's Federal Reserve meeting.

Gold demonstrated remarkable resilience in Tuesday's trading session, staging a significant recovery after experiencing substantial intraday pressure that tested investor resolve. The yellow metal saw futures contracts decline by as much as $75 during the session, representing a meaningful pullback that initially raised concerns about the sustainability of recent gains.

Silver futures established a new all-time high on Friday, advancing more than 6% in a single trading session. The continuous silver futures contract delivered an even more striking performance on a weekly basis, surging 13.42% to close at $57.08.

The precious metals market is delivering a compelling narrative for investors as the year draws to a close, with both gold and silver demonstrating remarkable strength amid significant technical transitions and evolving market dynamics.