Gold held firmly above the $5,000 per ounce mark, extending its rally for a seventh straight day. The surge is fueled by a weaker U.S. dollar and a fast-growing “debasement trade,” where investors move away from traditional currencies and bonds toward hard assets.
Recent geopolitical tensions, including renewed tariff threats from former President Trump, have amplified gold’s appeal as a safe haven. Silver also saw a sharp rise, climbing over 7%.
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Analysts note the rally shows investors are increasingly hedging against market uncertainty and fiscal spending. “As long as traders keep buying the dips, it’s hard to argue against higher prices in the near term,” said Fawad Razaqzada of City Index Ltd.
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