US EditionGold Breaks New Record — $7000 Level on the Cards
Gold prices surged above $4,800 driven by geopolitical tariff threats and strong central bank buying, with forecasts expecting prices to exceed $5,000 this year.
- On Wednesday, spot gold rose above $4,800, reaching $4,847.09 in New York as investors piled in amid tariff threats tied to U.S. efforts over Greenland.
- Analysts attribute the move to mounting geopolitical risks, including U.S. actions in Venezuela and tensions over Greenland, while the London Bullion Market Association survey expects prices above $5,000 this year, supported by lower U.S. real interest rates, Federal Reserve easing, and central-bank buying.
- Central banks, meanwhile, have flipped from net sellers to net buyers over the past decade, accelerating purchases after Western sanctions on Russia , while private wealth firms, asset managers, hedge funds and pension funds boost gold-backed ETFs.
- Goldman Sachs reiterated a $4,900 year-end target on Wednesday and described gold as its `highest conviction` long position amid geopolitical anxiety and surging demand near $5,000 and $7,000.
- If capital reallocates, Julia Du projects gold could reach $7,150, with potential for outsized impact if money-market funds and safe government bonds shift into bullion.
11 Articles
11 Articles
Gold Roars to Record Above $4,800 as Greenland Tariff Threats Fuel Talk of $7,000 Target
Gold blasted to a new record above $4,800 an ounce on Wednesday as investors piled into the metal on escalating tariff threats tied to U.S. efforts to exert control over Greenland, stoking fears of a fresh global trade war. Spot gold rose as high as $4,847.09 in New York afternoon trading, extending a powerful rally that began in 2024 and accelerated through a record‑breaking 2025. Futures touched an all‑time high of $4,759.60 on Tuesday, loggin…
The gold price has reached a new peak.
Gold Rises Above US$4,800 For First Time
Gold surged to a fresh record above US$4,800 on Wednesday, buoyed by safe-haven demand and a softer dollar. Spot gold rose 1.2 percent to US$4,818.03 per ounce as of 0125 GMT, after scaling a record peak of US$4,836.24 earlier in the session. US gold futures for February delivery added 1 percent to US$4,813.50 per ounce. Spot silver added 0.1 percent to US$94.68 an ounce, after hitting a record high of US$95.87 on Tuesday. Spot platinum gained 0…
Gold reaches a new record high, even silver becomes more expensive. Experts see political tensions as the main reason for the rise.
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