Gold prices surged to a record high, rising above $5,000 per ounce on Monday, as investors sought safety amid growing global uncertainty. The precious metal’s rise reflects concerns about geopolitics, economic instability, and fragile financial markets.
Spot gold increased by 1.79 per cent, reaching $5,071.96 per ounce in early Asian trade. During the day, it even touched an intraday peak of $5,085.50. At the same time, US gold futures for February delivery rose to $5,068.70 per ounce, showing a similar strong increase.
The sharp rise in gold prices shows that investors are moving toward safe assets. With uncertainty around global politics, currencies, and the economy, people are seeking protection in gold, which is traditionally considered a safe investment during turbulent times.
Analysts say that as long as geopolitical tensions and economic worries continue, gold is likely to remain in high demand, and its prices could continue to rise.