Gold surged more than 60% in 2025, the largest annual increase since 1979, driven by geopolitical instability.
Gold surpassed $5,000 per ounce on Monday, reaching a new record.
The precious metal reached $5,100 per ounce this morning as investors sought more safe-haven assets in a world marked by geopolitical instability fueled by measures taken by Donald Trump.
Gold has jumped more than 60% in 2025, the biggest annual rise since 1979, setting several records throughout the year, also supported by purchases from central banks and as the United States eased monetary policy.
President Donald Trump and the uncertainty created by his actions continue to be the main cause behind the surge in gold prices, highlighted analyst Ole Hansen from Saxo Bank, quoted by Reuters.
The latest move was the threat of a 100% tariff on Canada should it move forward with a trade agreement with China.
Analysts already predict that gold could reach $6,000 per ounce later this year, amid ongoing geopolitical tensions.
A survey concluded that some analysts even expect gold to exceed $7,000 per ounce this year, with consensus pointing to an average price of between $4,700 and $4,800 in 2026, according to the annual survey by the London Bullion Market Association.
Goldman Sachs, meanwhile, forecasts that gold could reach $5,400 by the end of this year.
“The only certainty at the moment is uncertainty,” said analyst Ross Norman.
Tensions in Greenland have been fueling the rise in the precious metal, alongside tariff uncertainties and questions surrounding the independence of the Federal Reserve.
“With the U.S. midterm elections approaching, political uncertainty may increase further. After surpassing $5,000, we expect the upward trend to continue,” said Philip Newman of Metals Focus.
Jornal Económico , 26/01/2026
