Gold Price Surpasses $5,000 Mark for the First Time, Continuing Historic Growth
The market price of gold has surpassed $5,000 per ounce for the first time, continuing a historic rally that has seen prices for the precious metal jump by more than 60% in 2025.
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This occurred amidst rising tensions between the US and NATO over Greenland, which has intensified growing concerns about financial and geopolitical uncertainty, writes the BBC.
US President Donald Trump's trade policies are also causing market unease. On Saturday, he threatened to impose 100% tariffs on Canada if it concludes a trade agreement with China.
Gold and other precious metals are traditionally considered safe-haven assets that investors buy during periods of uncertainty. On Friday, the price of silver surpassed $100 per ounce for the first time, continuing a nearly 150% increase over the past year.
Demand for precious metals is also driven by a range of other factors, including higher-than-usual inflation, a weak US dollar, purchases by central banks worldwide, and the anticipated interest rate cuts by the US Federal Reserve this year.
The wars in Ukraine and Gaza, as well as Washington's capture of Venezuelan President Nicolás Maduro, have also contributed to the rise in gold prices.
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