Gold surges past $5,000 as Dollar weakens
Gold prices rose above $5,000 per ounce for the first time on Monday, supported by safe-haven demand amid rising geopolitical tensions and a weaker U.S. dollar.
Spot gold climbed more than 2% to $5,088.52 per ounce. Silver jumped over 5% to a record $109.46, while platinum gained nearly 3% to an all-time high of $2,910.67. Palladium rose 2.5% to $2,092.59.
The U.S. Dollar Index fell to 97 as investors awaited the Federal Reserve’s policy decision later this week, with rates expected to remain unchanged.
Market sentiment was pressured by comments from U.S. President Donald Trump on Venezuela and escalating tensions with Iran, alongside concerns over a potential U.S. government shutdown.
In currency markets, the Japanese yen strengthened more than 1% to 153.89 per dollar on intervention speculation.
Asian equities were mixed, while oil prices edged higher, with Brent crude at $65.40 and U.S. WTI at $61. Cryptocurrencies traded lower, led by declines in Bitcoin and Ethereum.
