Gold Surpasses $4,100, Sets New Record
Gold prices surged past $4,100 per ounce for the first time, reaching an all-time high of $4,166, fueled by renewed US-China trade tensions and expectations of a US Federal Reserve interest rate cut. Analysts predict that prices could exceed $5,000 by 2026.
Spot gold rose 1.3% to $4,163.53 per ounce at 06:59 TRT and touched an intraday record of $4,166.50. Silver prices also hit historic highs alongside gold.
Gold has gained 56% so far this year, crossing the $4,000 threshold for the first time last week. The rally has been driven by geopolitical and economic uncertainties, expectations of Fed rate cuts, and strong central bank purchases.
Phillip Streible, chief market strategist at Blue Line Futures, commented: “Gold can easily sustain this momentum. We could see prices surpass $5,000 by the end of 2026.” He noted that central bank buying, strong ETF inflows, US-China trade tensions, and potential Fed rate cuts provide structural support for the market.
On the geopolitical front, former US President Donald Trump reignited tensions with China in a statement last Friday, effectively ending the fragile truce between the world’s two largest economies.
Meanwhile, investors are pricing in a 97% probability of a 25-basis-point Fed rate cut in October and a 100% chance for December.
Comments
Attention!
Sending all kinds of financial, legal, criminal, administrative responsibility content arising from illegal, threatening, disturbing, insulting and abusive, humiliating, humiliating, vulgar, obscene, immoral, damaging personal rights or similar content. It belongs to the Member / Members.