(Kitco News) - Gold and silver prices are sharply higher in midday U.S. trading Monday. Gold scored another record high today, while silver hit a fresh 14-year high. Ideas of lower global interest rates that produce better consumer and commercial demand, bullish technical charts, and continued safe-haven demand amid geopolitical storm clouds continue to push the precious metals prices north. There are no strong early technical or fundamental clues to suggest market tops are close at hand. That means the path of least resistance for the two precious metals’ prices will remain sideways to higher—until there is a solid early bearish warning signal. December gold was last up $64.50 at $3,770.30. December silver prices were up $1.218 at $44.17.
Reports said gold flows into exchange-traded funds have hit a three-year high. Traders and investors are also betting the Federal Reserve's interest-rate-cutting cycle will extend. Gold and silver have been among the year's best performing commodities markets.
In overnight news, The People’s Bank of China kept its key lending rates unchanged at record lows for the fourth straight month in September 2025, in line with market forecasts. That’s also bullish for the metals, from a demand perspective. The move came amid signs of easing China-U.S. trade tensions, but against a backdrop of weakening domestic momentum and fresh U.S. monetary policy easing. The one-year loan prime rate was kept at 3.0%, while the five-year benchmark, which guides mortgage costs, remained at 3.5%.
The key outside markets today see the U.S. dollar index slightly lower, while crude oil prices are slightly down and trading around $62.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently 4.151%.
Technically, December gold futures bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,800.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $3,600.00. First resistance is seen at $3,775.00 and then at $3,800.00. First support is seen at $3.750.00 and then at the overnight low of $3,718.10. Wyckoff's Market Rating: 9.0.
December silver futures bulls have the strong overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $45.00. The next downside price objective for the bears is closing prices below solid support at $41.00. First resistance is seen at $44.50 and then at $45.00. Next support is seen at the overnight low of $43.37 and then at $43.00. Wyckoff's Market Rating: 9.0.
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