He gold On Sunday, for the first time in its history, it surpassed the record of $5,000 per ounce amid the growing climate of global uncertainty and the turmoil caused by the policies of US President Donald Trump.
The price of gold reached $5,026 per ounce after another metal considered a safe haven, silver, reached $102 per ounce for the first time.
Gold has appreciated recently on turbulence surrounding Trump’s ambitions in Greenland and his pressure on the Federal Reserve, although in the past two years, the precious metal has strengthened on factors such as the weakness of the dollar and high inflation around the world.
In January 2024, gold was just above $2,000 per ounce.
The price of this metal has also risen due to the wars in Ukraine and Gaza, as well as Washington’s intervention in Venezuela.
“Over the last few days, the gold price action has been textbook safe haven behavior,” said Fawad Razaqzada, market analyst at Forex.com.
“The underlying demand for protection is still there. Confidence in the dollar and bonds seems a little weak,” he added.
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