Gold Price Sees Relentless Rally To Fresh Record Highs On Safe Haven Demand
Synopsis
Spot gold prices climbed to a new high of $4,379 per troy ounce, while gold futures maturing in December gained more than 2% to rise to $4,392.
Gold prices continued to surge on Friday, rising to a new record high on safe haven demand amid concerns of regional bank loans and ongoing trade tensions between the U.S. and China.
Spot gold prices climbed to a new high of $4,379 per troy ounce, surging by 1.2%. Gold futures maturing in December gained over 2% to surge to $4,392 before paring some of the gains.
Analysts at HSBC project gold prices to rise to $5,000 an ounce by 2026 on rising risks, according to a Reuters report. “Gold rally likely sustained through 1H'26 by geopolitical risks, economic policy uncertainty and rising public debt,” the firm stated in a recent note.
In a recent note, analysts at ING Think highlighted the ongoing tension between President Donald Trump and the Chinese administration, which has threatened retaliation against the Trump administration’s proposed tariff hike.
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