Gold Breaks $5,000: Why the Sudden Explosion?
Gold rose past $5,000 an ounce for the first time, continuing its rapid rally as global markets grew increasingly unsettled. Investors began avoiding government bonds and currencies, moving to safe-haven assets like bullion.
This rise occurred in early trading on Monday, after gold surged 8.5% last week. The main boost came from a weaker US dollar, making gold cheaper for buyers outside the US.
The Bloomberg Dollar Indicator fell 1.6%, its biggest weekly decline since May. When the dollar weakens, precious metals typically rise more easily as global demand is boosted. At the same time, silver also hit a new record on Monday.
Gold's rally is now further emphasizing its role as the market's "fear thermometer." In the past two years, gold prices have more than doubled. After posting its best annual performance since 1979, gold is still up 15% so far this year.
The main drivers are a mix of risks: rising geopolitical tensions, uncertainty about policy direction, and concerns about institutional stability—which are driving investors to increasingly adopt a "safe-haven" strategy and exit riskier assets.
At 7:22 a.m. in Singapore, gold rose 0.8% to $5,029.05 per ounce. Silver rose 1.7% to $104.9148. Palladium also rose, while platinum fell. (asd)
Source: Newsmaker.id
