Gold Surpasses $5,000, Reaching New Record High

The price of gold reached a new record high, surpassing $5,000 per ounce on Monday. Spot gold rose by 1.98% to $5,081.18, having earlier touched $5,092.71.

U.S. gold futures for February delivery rose 2.01% to $5,079.30 per ounce. The increase is attributed to investors turning to safe havens amid geopolitical uncertainties.

Kyle Rodda, senior market analyst at Capital.com, said that the crisis of confidence in the American government and the unstable decisions of the Trump administration contributed to the rise.

Philip Newman of Metals Focus predicts that prices will peak at $5,500 later this year, with a similar estimate previously made by Goldman Sachs.

Meanwhile, the price of silver rose by 5.79% to $108.91 per ounce.

Mohamed El-Erian estimates that gold will reach $6,000 in 2026.