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Gold has reached a historic milestone in international markets by surpassing, for the first time, 5,000 dollars per ounce, a psychological and economic barrier that marks a new era for precious metals.
In the opening of this Monday's session, the golden metal traded at 5,111.07 dollars, which represents an increase of 2.48% compared to Friday's close (4,987.49 dollars).
Although it later slightly retreated, by noon (12:15 pm ET) it maintained a solid gain of 2.09%, priced at $5,091.81.
The magnitude of the jump is even more impressive when considering that just a year and a half ago - August 2024 - the price was around $2,508, which indicates a doubling of the value during that period, as noted by the EFE agency.
So far in 2026, gold has appreciated by nearly 20%, starting from the $4,319.37 with which it closed 2025.
Why is gold rising?: Key factors behind the new historical high
The rise in gold prices is attributed to a combination of structural, monetary, and geopolitical factors:
Global geopolitical instability:
The recent World Economic Forum in Davos focused its message on the need to prepare for a "less stable world order," which led to increased demand for safe-haven assets like gold.
Recent tensions include new tariff threats from President Donald Trump to Canada, along with warnings about potential conflicts in strategic areas such as the Panama Canal, Cuba, Colombia, and even Brazil.
- Aggressive trade policy:
The tariffs imposed by Trump have directly impacted the metals market. In particular, silver has also reacted strongly, reaching $115.16 per ounce, which represents an increase of 11.6% compared to Friday.
-Weakness of the dollar and monetary expansion:
The U.S. dollar has lost ground against the euro, which has risen by nearly 1% and is now at 1.185 units.
This depreciation, combined with monetary stimulus policies and the accelerated growth of global debt, has benefited gold as a store of value.
- Central bank purchases:
According to Manuel Pinto, an analyst at XTB, "central banks continue to increase their gold purchases at an accelerated pace," which further strengthens the structural demand for the metal.
Institutional tension in the U.S.:
Another factor fueling uncertainty is speculation about a potential change in the presidency of the Federal Reserve (Fed). Additionally, Trump’s verbal attacks on the independence of the Fed and the currency interventions by the U.S. and Japan have also impacted the markets.
Expert Analysis: Coverage or Panic?
For Javier Molina, an analyst at eToro, gold is sending "a signal not of panic, but of hedging," and many portfolios are adjusting their exposure to protect themselves in a more uncertain institutional environment.
In his opinion, the fact that the markets have not corrected significantly indicates that "we are not facing an economic impact, but rather a phase of readjustment of perceptions."
On his part, Mark Haefele, chief investment officer of UBS Global Wealth Management, believes that “the case for gold remains strong,” and estimates that the price could reach 5,400 dollars per ounce in the medium term.
Haefele recommends maintaining positions in metals as a hedge against potential macroeconomic imbalances.
Silver also breaks its historical ceilings
Not only has gold skyrocketed.
Silver has recorded one of the largest increases in the market, rising 60.7% since the close of 2025, when its price was $71.64.
The current value of $115.16 per ounce reflects a new dynamic, where the gray metal is influenced by both its industrial use and the trade policies of the United States.
Manuel Pinto warns that the inventory situation and the tariffs imposed by Trump are behind this uptick, which could foresee new fluctuations as trade conflicts develop.
Conclusion: What does this mean for the global economy?
The rise of gold to over $5,000 an ounce is not just a financial phenomenon. It reflects a profound shift in the perception of global stability, the role of traditional currencies, and the uncertainty regarding the direction of U.S. economic policy.
The signals are clear: in the face of a more unstable world, with rising geopolitical tensions, latent inflation, and challenges to the independence of central banks, investors are turning to gold, solidifying it as the ultimate safe-haven asset.
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