In the midst of historical turbulence in global financial markets, the price of gold has surpassed the psychologically significant level of $5000 per troy ounce for the first time in history. At the Chicago Mercantile Exchange (CME), February futures jumped by more than 2%, reaching a peak of $5091.5. Reuters analysts note that along with gold, silver and platinum have also significantly increased in price. This rapid rise in precious metal prices is a result of a sharp decline in confidence in the U.S. economy and its assets amid escalating geopolitical tensions. Investors are increasingly favoring safe assets, moving away from dollar investments.
A key factor contributing to the "gold rush" is the unpredictable foreign policy of the Washington administration. Gold prices are surprising in their dynamics: in 2025, the value increased by 64.4%, and just in January 2026, gold rose by more than 17%. The sharp rise in quotes at the beginning of the year is linked to a series of radical statements by U.S. President Donald Trump. The market was alarmed by his threats to impose 100% tariffs on Canadian exports if a trade deal with China is reached, as well as his intention to impose a 200% tax on French wines. Furthermore, instability is exacerbated by U.S. actions in Venezuela and Trump's statements regarding the status of Greenland. In this situation, gold has become the main "safe haven" for investors.
Financial analysts suggest that gold may reach even greater heights. Goldman Sachs has already raised its price forecast for the current year to $5400 per ounce. Price support comes from both private investors and central banks of many countries, which, as part of their de-dollarization policy, are purchasing an average of 60 tons of precious metals monthly. If the current macroeconomic uncertainty persists and the Fed continues its accommodative monetary policy, the attractiveness of gold will grow, potentially leading to new adjustments in forecasts in the coming quarters.
