Gold price breaks above $5,000 an ounce for first time. Spot gold briefly touched an intraday high above $5,110 early on Monday.
Al Jazeera reported spot gold at $5,089.78 per ounce by 06:56 GMT after earlier touching an all-time high of $5,110.50. CNBC put early trading nearer $5,102 an ounce.
Al Jazeera said the metal soared 64% in 2025, its biggest annual gain since 1979. The BBC described the 2025 jump as more than 60%. The Guardian noted the price had risen nearly 90% since President Donald Trump's inauguration a little over a year ago.
Analysts said robust central-bank buying and large institutional flows were major drivers of the move. Western ETF holdings have climbed by about 500 tonnes since the start of 2025. A softer US dollar made dollar-priced gold cheaper for holders of other currencies.
Market watchers described gold as a safe-haven asset that investors buy in times of uncertainty and when interest rates fall. Expectations of lower rates reduced the appeal of bonds and supported demand for gold, commentators said.
The Daily Mail and The Guardian argued that President Donald Trump's tariff threats and actions around Greenland turbocharged demand by increasing geopolitical and trade uncertainty.
Goldman Sachs told CNBC the rally is increasingly powered by broad-based demand, including central-bank buying, ETF inflows and physical purchases by wealthy families.
Some market analysts cautioned that the rally could be vulnerable should upward momentum falter.
Susannah Streeter, chief investment strategist at Wealth Club, said gold "seems to know no bounds" amid ongoing political uncertainty.
When you own gold, it's not attached to the debt of somebody else like a bond is or an equity where the performance of a company will drive performance,
Frappell framed gold as detached from corporate or sovereign debt and said it can serve as a portfolio diversifier. "It's a really good diversifier in a very uncertain world," he added.
Silver climbed above $100 an ounce for the first time. Silver traded near $107.9 per ounce in early Monday trading.
The rally has prompted renewed interest from pension savers about whether gold could be added to retirement pots, research by Standard Life suggested.
Holding physical gold inside a pension can be complex and costly because it generally requires a self-invested personal pension that meets strict HMRC rules.
Goldman Sachs raised its December 2026 gold price forecast to $5,400 an ounce, a forecast reported by CNBC.
The bank said that outcome depends on hedges against global macro-policy risks remaining in place through 2026, an assumption the bank identified as uncertain.
Other market analysts cautioned that prices could fall if upward momentum falters, a scenario they flagged as plausible downside risk.
Steve Miller of The Guardian said "It could well have some further upside."
Reporting largely agrees that gold has reached unprecedented levels and that large institutional flows and central-bank buying have been significant contributors. Some outlets, notably The Daily Mail and The Guardian, have linked the recent surge to actions by President Donald Trump, while Goldman Sachs and others attribute it to broader buying by central banks, ETFs and wealthy families. Goldman Sachs' raised December 2026 forecast to $5,400 and analysts' warnings that momentum could fade were presented as projections, leaving near-term direction dependent on further ETF flows, central-bank purchases and the US dollar's path.
Swipe to see how overseas media are framing the story and what domestic news is not reporting.Scroll to see how overseas media are framing the story and what domestic news is not reporting.
Hong Kong signed a deal with the Shanghai Gold Exchange to create cross‑boundary trade‑clearing, expand storage capacity to 2,000 tonnes within three years and run a central‑clearing trial this year.
Officials framed the move as positioning Hong Kong as a regional gold reserve hub, aiming to scale storage from roughly 150 tonnes toward 2,000 tonnes and to begin trial operations this year.
Meaningful de‑dollarisation would have profound implications for the global security architecture, reducing the United States’ capacity to fund its military and impose coercive economic pressure.
Indian Express reported the RBI now holds about 17% of its foreign‑exchange reserves in gold (up from 12% a year earlier) and that nearly a third of a recent $14bn weekly rise in reserves reflected appreciation of its 880‑tonne gold holding. It also cited World Gold Council data showing central‑bank buying led by Poland (95t), Kazakhstan (49t) and Brazil (43t), and IMF data that the dollar's share of global reserves fell to 58.5% in 2024.
The Bell relayed Bloomberg analysis that gold has risen about 1,600% since 2000 and has systematically outperformed the S&P 500 Total Return; it added that publicly disclosed central‑bank gold holdings have exceeded dollar‑valued US government debt holdings since end‑2025.
Daily Sabah ran several forecasts and flow figures emphasising institutional demand and central‑bank accumulation.
Daily Sabah cited the LBMA survey, World Gold Council figures and Goldman Sachs for these numbers, underlining both ETF flows and ongoing central‑bank buying highlighted elsewhere.
European outlets reported global mine production of about 3,645 tonnes in 2024 (the second‑highest annual figure) and 2,717 tonnes in the first three quarters of 2025, up 16 tonnes year‑on‑year.
Der Standard put the euro price near €4,295 as a softer dollar limited euro‑area gains; Le Figaro quoted the World Gold Council saying gold could still rise 15–30% in 2026 and described a 'vicious circle' between tensions and safe‑haven buying; ZDF noted the Bundesbank held about 3,352 tonnes at end‑2024, with roughly 37% stored at the New York Fed.
Gold is the inverse of confidence.
Channels TV cited World Gold Council data showing gold demand by value jumped 44% year‑on‑year to a record $146 billion in Q3. News24 described recent flows as a 'debasement trade', said gold has more than doubled over two years and reported it was up over 17% so far this year; it also highlighted family offices buying for generational protection and that the rand strengthened to about R16.08 per dollar in early Asian trading.
Kyunghyang reported KRX domestic gold closed at a record 238,000 won per gram (up 1.67%) and that some private dealers were buying at above 1,000,000 won per don (3.75g). The paper also cited global mine output (3,645t in 2024; 2,717t in the first three quarters of 2025) and quoted an analyst saying fears over Fed independence and AI‑investment risks are stimulating demand.
ABC put the Australian‑dollar gold price near A$7,325 per ounce and reported heavy retail demand: the Perth Mint said thousands of customers were queuing weekly in October to buy bars or sell jewellery.
El Financiero reported gold had gained about 8.5% over the prior week while the Bloomberg Dollar Spot Index fell roughly 1.6% over the same week — its biggest weekly drop since May — which the paper said made gold cheaper for many buyers.
Dawn quoted Metals Focus forecasting prices could peak around $5,500 later in the year and carried a Capital.com analyst who described the immediate catalyst as 'a crisis of confidence' in the US administration triggered by recent erratic decision‑making.
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