Gold Tops $5,000 as Global Upheaval Fuels Precious Metals Rally
Bloomberg • • business
Key Points:
- Gold prices surpassed $5,000 an ounce for the first time, continuing a rapid rally driven by geopolitical tensions and investor shifts away from sovereign bonds and currencies.
- The price of gold reached approximately $5,040, marking an over 8% increase in the past week amid heightened geopolitical risks and a weakening US dollar.
- The US dollar index experienced its largest weekly drop since May, making precious metals more affordable for international buyers.
- Silver also hit a record high, exceeding $100 an ounce in the prior trading session.
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