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Gold tops $5,000 for first time ever, adding to historic rally (www.bbc.com)

submitted 2 days ago by MicroWave@lemmy.world to c/economics@lemmy.world

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The price of gold has risen above $5,000 (£3,659) an ounce for the first time ever, extending a historic rally that saw the precious metal jump by more than 60% in 2025.

It comes as tensions between the US and NATO over Greenland have added to growing concerns about financial and geopolitical uncertainty.

Donald Trump's trade policies have also worried markets. On Saturday he threatened to impose a 100% tariff on Canada if it strikes a trade deal with China.

Gold and other precious metals are seen as so-called safe-haven assets that investors buy in times of uncertainty. On Friday, silver topped $100 an ounce for the first time, building on its almost 150% rise last year.

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[–] workerONE@lemmy.world 12 points 2 days ago* (last edited 2 days ago) (1 children)

Alternative headline: the dollar seems to be plummeting. Look at its exchange rate vs other currencies, am I wrong? The currencies I've been watching have been much stronger vs the dollar in the last year

[–] sobchak@programming.dev 3 points 1 day ago (1 children)

Price of gold is increasing faster than the dollar is declining. E.g. look at gold price charts in euros.

[–] workerONE@lemmy.world 2 points 1 day ago

Good info thanks

[–] Kolanaki@pawb.social 10 points 2 days ago (1 children)

TIL Gold used to be a bottom.

[–] lessthanluigi@lemmy.sdf.org 0 points 1 day ago

Gold is now a switch

[–] harmbugler@piefed.social 6 points 2 days ago (1 children)

Trump once said he should check Fort Knox to make sure the gold is still there.

[–] bear@lemmy.blahaj.zone 5 points 1 day ago

Sounds like a confession.