Gold Penetrates Above $4,900 as Safe‑Haven Demand Intensifies Amid Data and Geopolitical Risks

Gold Nears Multi‑Year Highs on Global Uncertainty

Gold prices surged on Thursday, with spot bullion climbing above $4,913 per ounce, gaining nearly 1.7% and flirting with fresh multi‑year highs as traders balanced strong economic data with lingering geopolitical tensions. The precious metal extended its impressive run so far this year, supported by investors seeking refuge from risk and uncertainty in global markets.


Safe‑Haven Flows Fuel the Rally

The rally in gold has been driven in part by safe‑haven flows as geopolitical concerns continue to weigh on sentiment. Earlier this week, spot gold crossed $4,800 per ounce for the first time ever amid escalating tensions over strategic issues involving the U.S. and European allies, which prompted risk‑off positioning across asset classes.



U.S. Tariff Retreat and Dollar Weakness Boost Demand

Although recent easing in tariff fears—following announced pauses in certain trade threats—has tempered some risk‑off appetite, the broader macroeconomic backdrop remains supportive for gold. A softer U.S. Dollar has helped make bullion more attractive to global buyers, while expectations that monetary policy could lean toward lower rates have also underpinned prices.


Central Bank and Investment Demand Adds Support

Longer‑term structural demand has also buoyed prices. Major financial institutions have revised their gold forecasts upward, citing strong private‑sector investment and sustained central bank purchases as key drivers. One leading investment bank recently raised its year‑end gold forecast to $5,400 per ounce, reflecting ongoing demand for the metal as a hedge against policy and market risks.


Investors Watch U.S. Data and Policy Signals

Traders are parsing incoming U.S. economic data for clues on the Federal Reserve’s next moves. Strong growth readings and inflation metrics have added complexity to the outlook, with markets still debating the timing of any shift in interest rates. This mix of solid data and future policy uncertainty continues to support gold’s appeal as a hedge.


Gold’s recent strength has captured attention across financial markets, with its breakout above key resistance levels highlighting the metal’s role as a barometer of global risk sentiment. As investors monitor geopolitical developments, central bank actions, and economic indicators, gold’s trajectory toward—and potentially beyond—$5,000 per ounce will remain a focal point in 2026.