Gold prices crossed the historic milestone of $5,000 per ounce on Monday, reaching an all time high as investors rushed toward safe haven assets amid rising geopolitical uncertainty. This surge further strengthened the ongoing historic rally in gold prices.
Spot gold rose 1.79 percent to $5,071.96 per ounce, after touching an intraday high of $5,085.50. US gold futures for February delivery also climbed 1.79 percent to $5,068.70 per ounce.
During 2025, gold prices have surged by 64 percent overall, driven by strong safe haven demand, easing US monetary policy, heavy buying by central banks, and record inflows into exchange traded funds. China continued its gold purchases for the fourteenth consecutive month in December. So far this year, prices have already risen by more than 17 percent.
Meanwhile, a stronger Japanese yen weakened the US dollar, making gold relatively cheaper for investors holding other currencies. Analysts believe there is room for further gains, with gold potentially reaching $5,500 per ounce by year end, although short term pullbacks due to profit taking cannot be ruled out.
Other precious metals also posted strong gains, with silver rising to $107, platinum to $2,857, and palladium to $2,074 per ounce.
