The cost of gold has surpassed the \$5,000 per ounce mark for the very first time, driven by investors flocking to the safe-haven asset amidst mounting anxiety that U.S. President Donald Trump might alter relationships with major allies, ranging from European nations to Canada.
Throughout the initial 26 days of this year, the price of gold appreciated by 15%, extending the momentum from the record-breaking year of 2025, during which prices surged by 65%—marking the most substantial yearly gain since 1979.
Gold is frequently regarded as a sanctuary during times of instability and serves as an indicator of market apprehension.
The momentous rally observed in 2026 was instigated by a sequence of global and domestic maneuvers by Trump that unsettled markets: these included tariff threats—now rescinded—aimed at NATO partners in an effort to acquire Greenland, a military action intended to apprehend Venezuelan President Nicolás Maduro, and the criminal investigation launched against Federal Reserve Chair Jerome Powell.
Demand was also bolstered by a softening U.S. dollar, inflationary pressures exceeding projections, and forecasts suggesting the Federal Reserve would implement further cuts to interest rates before the year’s end.
On Sunday, gold climbed 1.4% to reach \$5,058 per troy ounce, according to data compiled as of 8:14 PM Eastern Time.
Silver, another asset sought for security, saw a 4.5% increase, hitting \$107.8 per ounce. This followed a remarkable 141% jump in 2025, making it the best performance since 1979.
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