Gold has climbed beyond $4,400 per ounce, reaching its highest level on record. The move comes as investors increasingly position for interest rate cuts in the United States, likely starting in the first half of 2026.
Lower interest rates reduce the opportunity cost of holding gold, which does not yield income. At the same time, a softer dollar makes gold more attractive in global terms. That combination has lifted demand at a time when positioning had been relatively light.
Silver has also moved higher, reaching record levels of its own. While it often tracks gold directionally, silver is benefiting from its role in industrial supply chains, particularly in sectors linked to electrification and energy transition.
Central bank activity remains a steady tailwind. Official buyers have continued to add gold to reserves throughout 2025, and that pattern shows no sign of slowing. Meanwhile, exchange-traded funds that had seen outflows for much of the year are now beginning to stabilise, with new flows starting to emerge.
Cora Gold Ltd (LON:CORA), together with its subsidiaries, explores for and develops mineral projects in West Africa. The company primarily explores for gold deposits. Its flagship project is the Sanankoro Gold project located in the Yanfolila Gold Belt, Southern Mali.
