NEW YORK: Gold jumped to a record high, topping the US$5,000 an ounce milestone on Monday, extending a historic rally as investors sought the safe-haven asset amid rising geopolitical tensions.
Escalating friction between the US and Nato over Greenland has further fueled gold’s run this year over prospects of more financial and geopolitical uncertainty.
The yellow metal soared 64% in 2025, underpinned by US monetary policy easing, central bank demand – with China extending its gold-buying spree for a fourteenth month in December – and record inflows into exchange-traded-funds.
“Our forecast for the year is that gold will see a high of US$6,400 an ounce with an average of US$5,375,” independent analyst Ross Norman said.