Gold, Silver Hit Record Highs Amid Global Uncertainty; More Upside Expected?

• Gold and silver reached fresh record highs on Monday, driven by rising macro-level uncertainty and expectations of Fed rate cuts.
• Gold surged 1.60% to cross $4,600 per ounce, while silver gained 5.45% to touch $84 per ounce in the international spot market.
• Geopolitical tensions, including US influence in Venezuela, Iran unrest, Russia-Ukraine war, and China-Japan spat, are fueling safe-haven demand.
• Shriram Wealth predicts gold prices to reach $5000-5200 per ounce in the next 12-18 months, an upside of 13-16%.
• Upcoming US inflation figures this week are crucial for determining the interest rate cut trajectory and potential price volatility.

Why It Matters: Precious metals are soaring due to global instability and anticipated Fed rate cuts, with further upside projected.