While crypto assets have bounced back and mended the dents left between Nov. 12 and 25, gold and silver have quietly strutted into the spotlight, with silver even tagging a fresh all-time high over the past week. Analysts and banks are still eyeing higher ground for precious metals, and Goldman Sachs researcher Daan Struyven even floated the idea that gold could reach $4,900 per ounce next year.
Silver Roars Past $56 as Goldman Analyst Envisions Bold $4,900 Gold Outlook
This past week, U.S. equities, crypto assets, and precious metals all enjoyed a tidy run of gains. As of Sunday, Nov. 30, an ounce of gold is trading at $4,219.55, marking a 1.37% lift against the greenback over the past 24 hours. Weekly data shows gold notched a 3.64% climb, and even with a brief cooldown in November, it still posted a 7.5% rise over the past 30 days. While that was noteworthy, the real spotlight belonged to the silver fox. Bitcoin.com News previously highlighted silver’s fresh peak, breaking above $56 per troy ounce.
This weekend, at 10 a.m. Eastern time on Sunday, an ounce of silver is going for $56.44 after jumping more than 6% against the U.S. dollar in the past 24 hours. This week’s figures further show silver climbed 14.1%, and over the past month, the metal is up 18.5%. Precious metals have drawn hefty demand in 2025 from both retail buyers and heavyweight institutions, including central banks. Even the stablecoin giant Tether found itself flagged by Jeffries as a noteworthy gold buyer this year. Moreover, analysts think gold still has plenty of runway left when it comes to valuation growth heading into 2026.
Goldman Sachs researcher Daan Struyven told Bloomberg TV that the financial institution sees “nearly 20% of additional price upside by the end of 2026, with our forecast at $4,900 per troy ounce by the end of 2026.” Struyven added that broader participation driven by diversification could help power that outlook. The Goldman analyst expects at least “two drivers” to keep stoking the precious metal’s appeal.
Could Gold and Silver Be Nearing a Peak?
Still, some argue that gold and silver may be brushing up against their ceilings, with recent price action hinting at peak levels after lengthy bull runs. Gold has been riding its uptrend for quite a while, and silver isn’t far behind, prompting seasoned traders to brace for an eventual correction or bust phase. Ultimately, only time will tell whether these metals keep climbing or finally hit a pause.
In the end, as 2025 nears its close, gold and silver’s momentum paints a vivid picture of a market brimming with confidence, caution, and no shortage of intrigue. Similar to the crypto world, bulls see another year of fuel ahead, skeptics sense exhaustion, and everyone else is left watching these assets test their limits. Whether this precious metals glow strengthens or fades, time holds the final verdict.