Gold breaks $5,000 as prices soar, analysts predict further rise
Photo: Prices are expected to rise by another $5,000 (Getty Images)
Global gold prices on Monday rose to a new all-time high, surpassing $5,000 per troy ounce for the first time, according to Reuters.
Reuters notes that the precious metal’s price rise comes amid rising geopolitical and financial uncertainty, driving investors toward safe-haven assets.
By the end of evening trading, spot gold was trading around $5,024 per ounce, and February gold futures also showed gains.
Analysts note that the sharp rise in prices in 2025, an overall increase of more than 64% for the year, is supported by several factors: low interest rates in the US, significant gold purchases by central banks (especially China), and record investment flows into gold-backed funds.
Despite the record, experts predict further gains for the precious metal.
"Our forecast for the year is that gold will see a high of $6,400 an ounce with an average of $5,375,” said independent analyst Ross Norman.
Gold is traditionally considered a safe-haven asset during economic or political turbulence, and the current rise reflects increased investor demand for secure assets.
Silver is also hitting record prices. On Friday, silver surpassed $100 per ounce for the first time, continuing a 147% increase over the past year, as retail investor inflows and speculative buying amplified prolonged tension in physical metal markets.
On January 23, gold prices reached a new peak - almost $5,000 per ounce. Alongside gold, other precious metals also saw record price increases.
Earlier, we reported that on January 20, gold prices exceeded $4,700 per ounce for the first time in history, driven in part by US President Donald Trump’s interest in acquiring Greenland.
