Historic surge in markets: Gold surpasses $5,000 per ounce

A historic turning point occurred in the gold markets on Monday. Driven by uncertainty in global markets, the price of gold per ounce exceeded the $5,000 level, setting a new record. In the spot market, the price of gold rose by 1.79 percent to trade at $5,071.96, reaching an all-time high of $5,085.50 during the day. In February futures, the price of gold per ounce rose by the same margin to $5,068.70.

Experts state that multiple factors are playing a role in the recent surge. It is noted that gold has gained significant momentum throughout 2025, with a 64 percent increase in value over the year. This major rise has been driven primarily by escalating geopolitical crises, the easing process in US monetary policy, heavy gold purchases by central banks, and record inflows into exchange-traded funds. In particular, China increasing its gold reserves for the 14th consecutive time in December stands out as a significant factor triggering the rise.

Kyle Rodda, a senior market analyst at Capital.com, evaluated the current surge with the following remarks:

“The crisis of confidence in the US administration and US assets has been triggered by the unpredictable decisions of the Trump administration in recent times.”

It is noted that US President Donald Trump's backtracking on planned tariffs for Europe and his rhetoric regarding high taxation on Canada and France have deepened uncertainty in the markets. Economists point out that these developments are driving investors toward gold, which is viewed as a safe haven.

Meanwhile, the dollar weakening against the Japanese yen has led investors to reduce their dollar positions ahead of the US Federal Reserve (Fed) meeting to be announced later in the week. As the value of the dollar decreases, gold becomes more attractive to investors using other currencies.

Philip Newman, Director at Metals Focus, indicated that the rise in the gold market could continue, stating, “Our current forecasts show that gold will peak at approximately $5,500 later in the year. Potential profit-taking will be short-term.”

The upward movement was not limited to gold alone. Spot silver rose 4.57 percent to $107.65, setting a new record at $108.60. The price of platinum rose 3.26 percent to $2,857.41, while palladium gained 3.2 percent to reach $2,074.40. Silver, in particular, had drawn attention by crossing the $100 threshold for the first time last Friday.

This volatility in global markets and the sharp rise in precious metals signal that investors may be on the threshold of a new era.