US EditionGold blasts past $5,500/oz to record high on safe-haven demand
Gold prices rose over 25% this year as geopolitical risks and expectations of Federal Reserve rate cuts increased investor demand for safe-haven assets.
- On Thursday, spot gold hit a fresh record above $5,500, surging to $5,595.41/oz while gold futures for April peaked at $5,625.89/oz.
- Following reports of possible U.S. action against Iran, Tehran vowed retaliation and Washington's recent Venezuela incursion and Greenland demands helped boost safe-haven investors.
- IG market analyst Tony Sycamore said central bank buying, trend-following funds and flight-to-quality demand fuelled gains as the U.S. Federal Reserve left rates unchanged on Wednesday.
- Prices had broken the $5,000 mark on Monday and climbed more than $500 over four sessions while silver hit a record $119.34 and platinum reached $2,918.80, reports said.
- Analysts say the rally looks parabolic but fundamentals should stay supportive through 2026, with Fed Chair Jerome Powell noting December inflation likely remains above the 2 per cent target.
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25 Articles
Gold prices on Thursday exceeded $5,500, a new record, while oil was also valued, after U.S. President Donald Trump threatened to attack Iran.
NE Iowa Publishing
Gold soars past $5,500 as Trump sabre rattles over Iran
Gold prices soared to another fresh record above $5,500 Thursday, while oil advanced and stocks fell after Donald Trump ramped up geopolitical tensions with his threatened military strike on Iran.
Gold blasts past US$5,500 to record high on safe-haven demand
BENGALURU: Spot gold jumped to a record above US$5,500 an ounce on Thursday, extending a blistering rally as investors piled into the safe-haven metal amid geopolitical and economic uncertainties, while silver also notched an all-time high.
Gold blasts past $5,500/oz to record high on safe-haven demand
Spot gold jumped to a record above $5,500 an ounce on Thursday, extending a blistering rally as investors piled into the safe-haven metal amid geopolitical and economic uncertainties, while silver also notched an all-time high.
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