Gold surged above USD 5,000 per troy ounce for the first time in history, marking a record high for the precious metal amid heightened global uncertainty.
Spot gold climbed to around USD 5,020 per ounce in Asian trading on Monday, driven by strong safe-haven demand as geopolitical tensions, currency volatility and concerns over global economic growth pushed investors toward gold. Analysts said sustained buying by central banks, expectations of lower interest rates and a weaker US dollar also contributed to the rally.
Gold has risen sharply over the past year, with some analysts forecasting further gains if global risks persist. (Newswire)