Gold Soars to All-Time Peak as Geopolitical Tensions Drive Demand
Spot gold climbed approximately 0.4% to $4,954 per ounce as of 0700GMT, following an earlier intraday record of $4,967.48 that shattered previous benchmarks. The week delivered a stunning 7.8% surge for the yellow metal.
The meteoric ascent has catapulted gold roughly 80% higher over the trailing twelve months, with year-to-date gains reaching approximately 15%—driven by intensifying trade disputes, geopolitical turbulence, and aggressive interest rate reductions implemented by major central banks worldwide.
Silver mirrored gold's explosive trajectory, advancing 3% to $99.38 per ounce. The white metal has rocketed more than 225% over the past year, reflecting extraordinary demand across precious metals markets.
Market analysts identified resurgent geopolitical anxieties as the primary catalyst, particularly surrounding Greenland following US President Donald Trump's weekend declarations threatening additional tariffs against nations resisting American territorial control and potential military deployments to the Arctic region.
Compounding investor apprehension, Trump addressed reporters aboard Air Force One late Thursday, revealing American naval assets were advancing toward Iran while cautioning Tehran against violent suppression of nationwide demonstrations or nuclear program resumption.
"I'd rather not see anything happen," Trump said. "We have an armada. We have a massive fleet heading in that direction, and maybe we won't have to use it. We'll see."
The convergence of military posturing and trade brinkmanship continues propelling bullion prices into uncharted territory as uncertainty dominates global markets.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
