In a report released on Monday, Mr. Nick Cawley - market analyst at Solomon Global - said that gold and silver prices are on track to conquer important psychological milestones in the first half of 2026. According to him, gold could reach $5,000/ounce, while silver could reach $100/ounce.
The driving force for price increases this week stems from the re-emergence of geopolitical chaos in the Middle East.
According to Kitco, on Sunday evening last week, US President Donald Trump announced that his administration is considering all options for Iran.
Also on Sunday evening, in an unprecedented video message, US Federal Reserve (Fed) Chairman Jerome Powell said that the US Department of Justice had sent a summons related to his testimony in the summer about the Fed headquarters renovation project.
US federal prosecutors have opened a criminal investigation into the $2.5 billion Fed headquarters renovation project in Washington, D.C.
The federal prosecutor's office in the Special Administrative Region of Columbia has opened a criminal investigation into US Federal Reserve Chairman Jerome Powell for renovating the headquarters of the central bank in Washington and whether Mr. Powell lied to Congress about the scale of the project, US officials revealed.
The investigation, including analyzing Mr. Powell's public statements and checking spending data, was approved by the head of the Federal Prosecutor's Office in the Special Region of Columbia, Jeanine Pirro, in November 2025.
The investigation escalated the prolonged dispute between President Donald Trump and Fed Chairman Jerome Powell. The President threatened to dismiss the Fed Chairman and raised the possibility of suing Mr. Powell in connection with the 2.5 billion USD bailout.
In this volatile context, as investors leave the USD, demand for safe-haven assets continues to increase" - Mr. Cawley said in a report on Monday.
He believes that it is only a matter of time before gold and silver touch new price targets, and any correction should be seen as an opportunity to buy.
Both metals are approaching important "round numbers" of 5,000 USD/ounce for gold and 100 USD/ounce for silver" - he said. "These milestones are a major psychological reference point and are likely to trigger a new wave of volatility. For long-term investors, any sell-off around these levels will be a new opportunity to participate in the market.
In the outlook update announced last week, Cawley said that despite strong market fluctuations, gold and silver will continue to benefit in the current uncertain economic environment.
Both metals are in a very strong technical uptrend, with intact momentum. Currently, almost no factors are strong enough to disrupt this trend in the short term. The combination of loose monetary policy, geopolitical tensions and supply restrictions is creating a very strong'price increase formula' for precious metals," he said.
Technically, Mr. Cawley said that gold may face initial resistance at $4,750/ounce, but this is unlikely to prevent prices from reaching the $5,000/ounce mark before summer.
Meanwhile, with silver prices having surpassed the historical peak of last month, he said there are almost no more barriers to an increase to 100 USD/ounce. However, he also warned investors to be cautious.
Anyone who trades silver must be aware that price fluctuations will become increasingly fierce, with sessions fluctuating above 10% per day. The higher the silver price, the greater the level of fluctuation" - he warned.
