Gold prices climbed above the $5,000 per ounce mark on Monday, setting a new record as investors sought refuge amid growing global uncertainty linked to US policy shifts and broader geopolitical risks, reports AFP.
Spot gold briefly hit over $5,080 per ounce, extending gains driven by heightened safe-haven demand and concerns about macroeconomic stability. Alongside gold’s advance, other precious metals such as silver also reached multi-year highs.
Analysts said market unease has been fueled by a combination of political and economic factors, including uncertainty over US trade policies, pressure on the Federal Reserve’s independence and geopolitical tensions in multiple regions. These conditions have weakened confidence in traditional financial assets and bolstered demand for tangible stores of value.
Gold’s rally marks a dramatic rise from just above $2,000 per ounce in early 2024 and continues a longer-term trend of increasing prices as investors seek protection against inflation, currency weakness and market volatility. Strong central bank buying and robust inflows into gold-related exchange-traded funds have also supported prices.
Market observers pointed out that while short-term drivers include recent US policy uncertainty and currency swings, the broader upward trend reflects deeper structural demand for gold as a hedge and store of wealth in uncertain economic times.
Bd-pratidin English/ Jisan
