Gold Hits Record High Above $5,000 an Ounce Amid Trump Turmoil
The price of gold has soared to a record high above $5,000 an ounce for the first time, driven by investors seeking safe haven from the chaos caused by US President Donald Trump's policies. The benchmark price jumped to $5,100 (£3,723) on Monday morning before easing back to settle at $5,091, up 2.2% for the day.
The move comes as Trump's erratic policy shifts and proclamations have sparked concerns about global economic instability. His threat of 100% tariffs on Canada if Ottawa makes a deal with China, along with his showdown with Europe over Greenland, have contributed to rising anxiety in financial markets.
Gold has become a safe bet for investors seeking refuge from the volatility triggered by Trump's presidency, which has seen stocks and bonds swing wildly due to his policy changes. "There has been a vaporising of trust," said Ross Norman, an independent analyst. "And it takes time to win back that trust, which is why we're seeing a movement away from the dollar and dollar assets."
Norman predicts gold will continue to rise this year, reaching $6,400 an ounce, with an average price of $5,375 over 2026. He attributes gold's appeal to the uncertainty surrounding Trump's policies, which has made the metal an attractive store of value.
Another factor driving the surge in gold prices is a new administration in Tokyo, which has pledged to cut taxes to tackle spiraling food costs. The move has sparked concerns about unfunded spending and the impact on Japan's already high debt levels, which have sparked anxiety among international investors.
The yen has recovered some of its value against the dollar following speculation that the US Federal Reserve may be using its vast resources to buy Japanese currency. This development has added fuel to the debate about the dollar's strength and whether it will continue to fall in value this year.
As the Fed prepares to meet on Tuesday and Wednesday, there is growing expectation that they will take steps to reduce interest rates at a faster pace than expected by financial markets. A weaker dollar would undermine the value of US assets such as Treasury bonds, which has made gold an even more appealing option for investors seeking safe haven.
The price of gold has soared to a record high above $5,000 an ounce for the first time, driven by investors seeking safe haven from the chaos caused by US President Donald Trump's policies. The benchmark price jumped to $5,100 (£3,723) on Monday morning before easing back to settle at $5,091, up 2.2% for the day.
The move comes as Trump's erratic policy shifts and proclamations have sparked concerns about global economic instability. His threat of 100% tariffs on Canada if Ottawa makes a deal with China, along with his showdown with Europe over Greenland, have contributed to rising anxiety in financial markets.
Gold has become a safe bet for investors seeking refuge from the volatility triggered by Trump's presidency, which has seen stocks and bonds swing wildly due to his policy changes. "There has been a vaporising of trust," said Ross Norman, an independent analyst. "And it takes time to win back that trust, which is why we're seeing a movement away from the dollar and dollar assets."
Norman predicts gold will continue to rise this year, reaching $6,400 an ounce, with an average price of $5,375 over 2026. He attributes gold's appeal to the uncertainty surrounding Trump's policies, which has made the metal an attractive store of value.
Another factor driving the surge in gold prices is a new administration in Tokyo, which has pledged to cut taxes to tackle spiraling food costs. The move has sparked concerns about unfunded spending and the impact on Japan's already high debt levels, which have sparked anxiety among international investors.
The yen has recovered some of its value against the dollar following speculation that the US Federal Reserve may be using its vast resources to buy Japanese currency. This development has added fuel to the debate about the dollar's strength and whether it will continue to fall in value this year.
As the Fed prepares to meet on Tuesday and Wednesday, there is growing expectation that they will take steps to reduce interest rates at a faster pace than expected by financial markets. A weaker dollar would undermine the value of US assets such as Treasury bonds, which has made gold an even more appealing option for investors seeking safe haven.
! $5,000+ per ounce is insane! Like, what's next? People going to start paying that much for a decent cup of coffee 
️?! And it's not like they're even investing in anything tangible anymore... just throwing their money around because Trump is being Trump 
. Newsflash: it's still gold, it's still a commodity, and it can fluctuate just as easily as the dollar 
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. I'm low-key hoping $5000/oz is just a blip on the radar, but like, let's be real, it's only gonna get more wild with him at the helm. Can't say I trust any economy when the big cheese is making threats left & right 
! No wonder people are flocking to gold as a safe bet - it's the ultimate security blanket 
.
! The yen has already had a nice bounce back, so fingers crossed it stays strong 
. Anyway, I'm holding onto my gold reserves for dear life... but hey, who knows? Maybe $6k+ an ounce is just around the corner 
anyone who's been following the market knows that gold has always been seen as a safe bet during times of economic uncertainty. now with trump at the helm, it's no surprise investors are running to it for refuge 
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! And it's not just because of Trump's drama either. People are really worried about the economy and stuff. They're looking for something that's gonna stay stable, you know? Like a safe haven 
. Japan just announced they'll be cutting taxes to fight inflation, that's not helping much though 
. I got no idea what'll happen next but one thing for sure, if the dollar starts to tank, we're in for a wild ride 
!
I'm trying to make ends meet with my tiny part-time job and some people are out there buying gold like it's going out of style... 
I swear, if Trump doesn't calm down and start making sense soon, we're all gonna end up in a financial free fall from which there's no recovery... 
And gold just happens to be the go-to safe bet when everyone's feeling anxious 
But seriously though, I think it's interesting how markets are reacting to all this uncertainty. It's like people are saying, "You know what? Forget about stocks and bonds, let's just bet on gold instead" 
And if Ross Norman is right that it'll reach $6,400 an ounce by 2026... 
$5k+ gold is just a sign that everyone's lost faith in the current system. When you can't trust what's going on, you wanna hide your cash in some precious metal 
And yeah, Trump's been a wild card, but it's not like he's the only one causing chaos - Japan's got its own debt issues and Tokyo's just adding fuel to the fire with those tax cuts 
. It's like everyone's on edge and trying to protect their money. Ross Norman's prediction of $6k+ an ounce by the end of this year is pretty wild too 
$5k an ounce? more like 6k an hour if you ask me