Gold touches a fresh all-time high as silver continues to skyrocket

Gold and silver markets are exhibiting fascinating movements. Silver has reached a fresh all-time high of $92.60/oz, exhibiting a classic parabolic move. The psychological level of $100 is nearby and is likely to test buyers' sentiment. If it can hold above $85, the uptrend remains intact, allowing this parabolic move to continue. Despite some selling pressure from bears after recent surges, eager buyers are filling the void in this thin market driven by retail traders. Gold also deserves attention as it has hit a fresh high of $4642, with a 1.2% increase, although this pales in comparison to silver's 6.5% rally. Strong buying during Asia-Pacific trading has steadied the bid for gold. If this movement continues towards the significant $5000 level, further upside may be anticipated. The global macro signals behind such movements in metals are crucial. Particularly, the implications of the U.S. exit from the gold standard have the potential to drive future trends in these markets.