Gold Prices Approach $5,600 per Ounce Amid Global Market Surge
In the latest trading on the global precious metals market, gold prices rose sharply by 3.2 percent, approaching $5,600 per ounce, signaling a continued upward trend for the valuable metal.
According to market reports, gold is currently trading at $5,587 per ounce, marking a $172 increase compared to the previous day. This surge places gold just shy of setting a new historical record.
A review of price trends shows that the current gold price has surged 28 percent compared to one month ago and more than doubled compared to a year ago. Since the beginning of 2026, this precious metal has experienced nearly a 20 percent gain.
Alongside gold, other precious metals have also seen price increases. Silver rose by 3.3 percent to $119.89 per ounce, setting a new record. Meanwhile, platinum and palladium increased by $82 and $43 respectively, trading at $2,786 and $2,087 per ounce.
According to Reuters, investors’ desire to safeguard their assets against economic and political risks, especially amid escalating geopolitical tensions in various parts of the world, has been cited as a key factor driving gold prices higher.
However, Peter Grant, Vice President of Zaner Metals, noted that although gold is facing excessive demand, it remains vulnerable to potential price corrections—an aspect that could capture investors’ attention as the market unfolds.
