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Gold tops $5,000 for first time ever, adding to historic rally (www.bbc.com)
submitted 9 months ago by to c/economics@lemmy.world
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The price of gold has risen above $5,000 (£3,659) an ounce for the first time ever, extending a historic rally that saw the precious metal jump by more than 60% in 2025.

It comes as tensions between the US and NATO over Greenland have added to growing concerns about financial and geopolitical uncertainty.

Donald Trump's trade policies have also worried markets. On Saturday he threatened to impose a 100% tariff on Canada if it strikes a trade deal with China.

Gold and other precious metals are seen as so-called safe-haven assets that investors buy in times of uncertainty. On Friday, silver topped $100 an ounce for the first time, building on its almost 150% rise last year.

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[–] 13 points 9 months ago* (2 children)

Alternative headline: the dollar seems to be plummeting. Look at its exchange rate vs other currencies, am I wrong? The currencies I've been watching have been much stronger vs the dollar in the last year

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    • [–] 8 points 9 months ago (1 child)

    Trump once said he should check Fort Knox to make sure the gold is still there.

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    • [–] 10 points 9 months ago (1 child)

    TIL Gold used to be a bottom.

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    [–] 7 points 9 months ago

    The USA Dollar is dropping rapidly.

    https://www.morningstar.com/economy/what-weaker-us-dollar-means-investors-2026-beyond

    Through September, the dollar depreciated 13.5% against the euro, 13.9% against the Swiss franc, and 6.4% against the yen, alongside a 5.6% decline versus a basket of major emerging-markets currencies.

    I don't have a ready source, but I understand the stock market rally in the USA is only a rally as the dollar is dropping. Priced in other currencies, the USA stock market is down.

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