Gold costs surged past $5,000 per ounce for the primary time, as traders rushed to the safe-haven asset as concern unfold that US President Donald Trump is upending relations with key allies from Europe to Canada.
In this yr’s first 26 days, the worth of gold has jumped 15%, constructing on a record-breaking year in 2025, when costs skyrocketed 65% – the biggest annual achieve since 1979.
Gold is commonly seen as a refuge in instances of uncertainty and a barometer of market anxiousness.
The historic 2026 rally has been pushed by a collection of market-destabilizing global and home strikes by Trump, from the now-revoked tariff threats against NATO allies in a bid to soak up Greenland, the army operation to capture Venezuelan President Nicolás Maduro, and the criminal investigation into Federal Reserve Chair Jerome Powell.
Demand has additionally been pushed by a weaker US greenback, higher-than-expected inflation, and predictions the Fed will additional minimize rates of interest this yr.
Gold was up 1.4% Sunday to $5,058 a troy ounce, as of 8:14 pm ET.
Silver, one other safe-haven asset, rose 4.5% to $107.8 an oz.. This adopted a 141% surge in 2025 for its finest efficiency since 1979.