GOLD hit $5,000 an ounce yesterday as it reached the significant milestone – and now experts predict that it could even hit $6,000 this year.
Gold hit the milestone in trading on Monday and is currently nearing $5,100 after a “perfect storm” of geopolitical tension, including Donald Trump’s claims over Greenland, regime change in Venezuela, strikes in Iran, continued conflict in Ukraine and a rotation out of US Treasuries into safe-haven assets.
It’s risen hugely in a short amount of time – it was less than $2,740 an ounce a year ago today.
Silver also raced past $100 an ounce last week as it reached the century milestone for the first time.
Silver is today trading at nearly $110 and it has also risen hugely in a short amount of time – it was just $30.15 a year ago today.
Industrial demand, specifically from the AI, solar, and EV sectors are driving demand – as well as the same geopolitical pressures.
High-volatility super-cycle
Tony Redondo, Founder at Newquay-based Cosmos Currency Exchange, said gold may even reach $6,000 in 2026.
He added: “We are likely in a high-volatility super-cycle where the long-term floor has moved up, even if a short-term correction is not probable but possible. While a short-term ‘burst’ or correction toward $4,500 for gold and $80 for silver is highly possible due to profit-taking, the long-term structural drivers suggest the peak may not be in just yet.
“Gold’s surge to $5,000 and silver’s leap to $100 have been fuelled by geopolitical friction and central bank diversification. For 2026, many analysts see gold climbing toward $5,400 or even $6,000, while silver could test $125 if industrial deficits persist.
“The steepness of the rise in the value of both will naturally feed the ‘bubble’ debate. The rest of 2026 hinges on the Federal Reserve. If interest rates stay elevated, the opportunity cost of holding non-yielding metals could trigger a sell-off. Conversely, a weakening Dollar could push these metals into a final, parabolic ‘blow-off top’.”
Gold loves crazy and the world is mad at present
Samuel Mather-Holgate, Managing Director & IFA at Swindon-based Mather and Murray Financial, said gold and silver are surging because of the geopolitical chaos.
He continued: “Gold loves crazy and the world is mad at present, so who knows how higher the store of sensible can go?
“With Trump in the White House geopolitics is going to be on a turbulent ride for the foreseeable future which means gold should retain its highs. At current levels it might be naive buying in now though.”
Cameron Parry, Founder & CEO at TallyMoney, said the rise in price of gold and silver links to the struggles of the US Dollar.
He added: “Gold is showing us the increasingly rapid decline of the real value of traditional currency. The day the gold price breaks $5,000 an ounce is the same day the gold price breaks £120,000 a kilo.
“Gold has hit another new high – but it is equally true to say traditional currency hits another new low.”
Traditional currency hits another new low
Jim Tannahill, Managing Director at London-based Suttons and Robertsons, said he is seeing popularity in silver and gold spike.
He continued: “We’ve definitely seen more silver coming through the door in recent months – mainly silver plates and bowls that people have inherited and don’t know what to do with, as they’ve not been worth much.
“Suddenly they’re the ‘dish of the day’ because prices have rocketed and people are getting meaningful value from selling them. With gold hitting $5,000 yesterday and the tax payment deadline looming, I anticipate gold will be popular this week.”
Photo by Nguyen Mazic on Unsplash.
