Gold has surged to a stunning new peak of $4,600 per ounce, marking a 72% gain so far this year amid geopolitical unrest in Iran and mounting pressure on the US Federal Reserve to slash interest rates.
The precious metal kicked off 2025 at around $2,640, steadily climbing to $3,200 by April. It held relatively flat through late August before exploding higher, shattering $4,300 in mid-October. In recent trading, spot gold jumped 2.4%, while US gold futures climbed 2.8% over the period.
The rally has lifted other metals, too. Silver smashed its own record high, and platinum, along with copper, lingered near their peaks. In 2026’s first two weeks alone, silver soared about 20% boosting profits beyond historical norms while gold gained over 4% in the opening week, as investors flocked to safe-haven assets amid escalating US-Venezuela tensions.
China leads gold production, followed by Australia, the US, South Africa, Peru, Russia, and Indonesia. On the demand side, India tops the list for gold jewellery, with China, Turkey, the US, Saudi Arabia, Russia, and the UAE rounding out the biggest buyers.
Story by: Mercy Addai Turkson #ahotoronline.com