Gold closing in on $5,000 milestone
Geopolitical risks and a renewed threat to the independence of the Federal Reserve have driven investors to seek safe haven in precious metals, with gold now closing in on $5,000 an ounce
GOLD PRICE ($ per troy ounce)*
4000
3600
3200
2800
2400
2000
JAN 23, 2023
$1,914.85
2024: Central banks in emerging markets start buying gold to reduce dependency on dollar
Nov 5: Trump wins election
Jan 20: Trump inauguration
Apr 2: Liberation Day sees Trump announce sweeping tariffs that impact nearly all sectors of U.S. economy – stock market crashes
Aug 25: Fears for independence of Fed as Trump tries to fire Governor Lisa Cook
Oct 29: Gold resumes climb after Trump-Xi Jinping meeting fails to reassure investors
JAN 23, 2026
$4,967.03
2023
2024
2025
2026
*System of weights used for precious metals and gems, based on pound of 12 ounces as opposed
to traditional 16. One troy ounce = 31.10 grammes
Sources: Bloomberg, BullionByPost, Royal Mint
Picture: Getty Images
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