Gold: Historic Rally – Towards $5,000 per Ounce

Gold is experiencing a historic rally, approaching $5,000 per ounce. The rise is fueled by a weaker dollar and increased geopolitical tensions.

The precious metal reached a new all-time high, exceeding $4,967 per ounce, with a weekly increase of nearly 8%. Silver also recorded a new record, reaching levels just below $100 per ounce, while platinum also hit a historic high.

The central bank of Poland, one of the world's largest gold buyers, has approved plans to purchase an additional 150 tons.

J.P. Morgan Private Bank's Yuxuan Tang points out that gold is being repriced due to "cracks in the post-war, rules-based international order," with investors seeing it as a shield against risks.