Gold blasts to record high as investors flock during global uncertainties
Gold price reaches another record as experts predict continued increase
- Gold prices soared to an unprecedented high, breaching $5,000 an ounce on Monday, following a 64% increase in 2025 and over 17% this year.
- The surge is attributed to escalating global uncertainties, sustained safe-haven demand, US monetary policy easing, and robust central bank buying, particularly from China.
- Investor confidence was further impacted by recent erratic decision-making from the Trump administration, including threats of tariffs on European allies and Canada.
- Other precious metals also experienced significant gains, with silver hitting a record 109.44,platinumreaching109.44,platinumreaching2,891.6, and palladium achieving a three-year high.
- Analysts forecast continued upside for gold, with prices potentially peaking around $5,500 later this year, despite expected periodic pullbacks.