LONDON
Gold prices surged to a historic all-time high on Monday, crossing the $5,100 per ounce threshold for the first time as investors fled to safe-haven assets following new global trade tensions.
The spot price for gold hit $5,110.50 in early trading, marking an 18% increase since the start of 2026. The rally intensified after U.S. President Donald Trump threatened 100% tariffs on Canada over potential trade deals with China, reigniting fears of a broader international trade war.
“The only certainty at the moment seems to be uncertainty,” said Ross Norman, an independent precious metals analyst. “We are seeing a massive movement away from the dollar as trust in traditional assets vaporizes.”
The surge isn’t just limited to individual investors. Central banks have continued aggressive bullion purchases, with China reporting its 14th consecutive month of buying.
Additionally, a weakening U.S. dollar and a strengthening Japanese yen have made gold more attractive to international buyers.
Silver has followed suit, jumping 8% to hit $110 an ounce, a level not seen in over a decade.
While some analysts warn of a short-term correction due to profit-taking, many firms, including Goldman Sachs and J.P. Morgan, have revised their year-end targets upward, with some predicting gold could test the $6,000 mark before 2027 if geopolitical instability persists.
By Anthony Solly
