Gold prices soared above $5,000 an ounce for the first time on Monday morning, driven by investors' flight to safety amid the chaos caused by President Donald Trump's erratic policies. The price of gold surged to a record high of $5,100 (£3,723) before easing back to settle at $5,091, up 2.2% from Friday.
Trump's recent threats against Canada and his showdown with Europe over Greenland have heightened concerns about the stability of global markets. His administration's policies on trade and immigration have also raised fears of a potential US shutdown, which has fueled anxiety among investors.
The rising uncertainty and volatility in the markets are driving investors to seek safe-haven assets such as gold. "There has been a vaporising of trust," said Ross Norman, an independent analyst. "And it takes a while to win back that trust, which is why we're seeing a movement away from the dollar and dollar assets."
Gold prices have jumped by almost 90% since Trump's second inauguration last year, making it one of the most spectacular increases in recent history. Analysts predict that gold will continue to rise, with some forecasters predicting a high of $6,400 an ounce.
The latest surge in gold prices is also linked to concerns about the US dollar. Trump's administration has long suggested they would like to see a weaker dollar to boost domestic manufacturing, which could undermine the value of US Treasury bonds. This, in turn, makes gold an attractive investment option as a store of value.
The Federal Reserve is set to meet on Tuesday and Wednesday to consider its next move on interest rates, amid pressure from the White House to reduce borrowing costs faster than expected by financial markets. Analysts say the Fed may use some of its vast resources to buy Japanese yen to support the currency and weaken the dollar, which could continue to fall in value this year.
The rising gold prices have been driven by a combination of factors, including Trump's chaotic policies, concerns about a potential US shutdown, and the anxiety on international money markets. As one analyst put it, "The only certainty at the moment seems to be uncertainty, and that's playing very much into gold's hands."
Trump's recent threats against Canada and his showdown with Europe over Greenland have heightened concerns about the stability of global markets. His administration's policies on trade and immigration have also raised fears of a potential US shutdown, which has fueled anxiety among investors.
The rising uncertainty and volatility in the markets are driving investors to seek safe-haven assets such as gold. "There has been a vaporising of trust," said Ross Norman, an independent analyst. "And it takes a while to win back that trust, which is why we're seeing a movement away from the dollar and dollar assets."
Gold prices have jumped by almost 90% since Trump's second inauguration last year, making it one of the most spectacular increases in recent history. Analysts predict that gold will continue to rise, with some forecasters predicting a high of $6,400 an ounce.
The latest surge in gold prices is also linked to concerns about the US dollar. Trump's administration has long suggested they would like to see a weaker dollar to boost domestic manufacturing, which could undermine the value of US Treasury bonds. This, in turn, makes gold an attractive investment option as a store of value.
The Federal Reserve is set to meet on Tuesday and Wednesday to consider its next move on interest rates, amid pressure from the White House to reduce borrowing costs faster than expected by financial markets. Analysts say the Fed may use some of its vast resources to buy Japanese yen to support the currency and weaken the dollar, which could continue to fall in value this year.
The rising gold prices have been driven by a combination of factors, including Trump's chaotic policies, concerns about a potential US shutdown, and the anxiety on international money markets. As one analyst put it, "The only certainty at the moment seems to be uncertainty, and that's playing very much into gold's hands."
, I'm so done with these platform updates! Can't they just make a mobile app that doesn't suck for once? 
I mean, have you tried using the new gold prices feature on Twitter? It's like, where is my dollar amount conversion table?! 
They keep asking me to switch to web view just to get the numbers right. And don't even get me started on the analytics tab – it's always freezing on me! 
I swear, if I have to re-load that thing one more time... Can they just make it user-friendly for once?!
so i'm not surprised to see gold prices go through the roof like this lol. trump's policies are super unpredictable and investors are basically throwing caution to the wind right now 
. it's crazy how much gold has increased since he took office, almost 90% 
! and now analysts are saying it could reach $6,400 an ounce? that's insane 
but honestly, who can trust anyone when trump is making these moves? 
anyway, i'm not a financial expert or anything, but it seems to me like gold is just a safe bet right now 
. Now it's over $5,000 and people are going crazy! I'm not saying it's a bad thing or anything, but come on, it's getting ridiculous 
. I mean, who needs that kind of uncertainty in their life? Not me, that's for sure 
.
and it made me think about how our brains can get wired up just like those birds navigate their way through the skies! apparently, scientists have found that birds use these mental maps to figure out where they're going and when they need to stop for food. like, who knew birds had such complex internal compasses? 
.
. And now they're talkin' $6,400? I mean, I've seen some crazy inflation in my time, but this is somethin' else 
. Guess that's why gold is the safe haven of choice these days 
.
. Trump's been stirring up a storm since day one, and investors are just trying to protect their cash. Don't blame 'em for wanting a safe haven asset like gold 
. Guess we'll just have to wait and see how this all plays out...
I mean, come on, $5k an ounce is just crazy talk! The last time we saw prices this high was like, during the dot-com bubble or something. 
Trump's antics are definitely sending investors running to the hills, but can't they see he's just making a mess everywhere? 
.
but seriously, 90% increase in a year is wild. i think it's safe to say that gold is here to stay for now 
and with all the talk about the fed potentially devaluing the dollar, it's only gonna get more expensive to buy stuff from us. anyway, i guess it's not entirely surprising given trump's track record of making promises he can't keep 
I've been following this gold price trend since Trump took office, and it's been wild. But is it really about investors fleeing to safety or is it just a perfect storm of economic uncertainty? 
wow $5k+ an oz is crazy! i think its no surprise though given all the drama with trump 
Analysts r sayin it wuz a vaporizing of trust cuz trump's been talkin trash 2 canada & europe over Greenland 
so yeah, gold's doin pretty well rn 
.
because of it . i mean we've seen a huge jump in gold prices since trumps inauguration last year +
% , and now it's at $5,100 an oz wow ! 
. but what will happen when interest rates rise ? 