Gold soars to an all-time peak, surpassing $5,000 per ounce

Gold Prices Reach Unprecedented Heights

On Monday, gold prices soared past $5,000 per ounce for the first time, continuing a remarkable upward trend as investors sought safety amid increasing global tensions. By 2304 GMT, spot gold had climbed 0.75% to $5,019.85 per ounce, while U.S. gold futures for February delivery advanced 0.84% to $5,020.60 per ounce.

The ongoing disputes between the United States and NATO regarding Greenland have fueled further gains in gold this year, as concerns over economic and political instability grow. According to independent analyst Ross Norman, gold could reach as high as $6,400 per ounce this year, with an average price projected at $5,375.