Gold tops $5,000 for the first time as dollar slides, global risks mount
The price of gold surpassed $5,000 per troy ounce for the first time ever while silver also soared to record highs as precious metals have become an increasingly attractive asset class in the face of a weakened US dollar, uncertainty at the Federal Reserve and geopolitical turmoil.Spot gold was trading at around $5,110 per ounce on Monday morning while silver surged 8%, pushing deeper above $100 per ounce.Meanwhile, stocks opened modestly higher after two straight weekly declines.The Dow Jones Industrial Average began Monday’s trading session up more than 150 points, or 0.32%, while the S&P 500 index opened 21 points higher, or 0.3%.The tech-heavy Nasdaq started the day up nearly 32 points, or 0.14%.The US dollar weakened further on Monday, sliding to a four-month low as investors priced in mounting political and macroeconomic risks.The dollar’s decline reflected growing concern over the possibility of another US government shutdown, renewed trade tensions after President Donald Trump threatened steep tariffs on Canada and heightened geopolitical uncertainty that pushed investors toward hard assets.Pressure on the greenback was compounded by foreign-exchange volatility, particularly a sharp rally in the Japanese yen after Washington and Tokyo signaled a willingness to intervene to support the currency.Markets are also bracing for Wednesday’s Federal Reserve rate decision and Chair Jerome Powell’s press conference, with traders watching closely for any signals on the policy outlook.Gold and silver are rallying for deeper reasons than just a weaker dollar, according to Dean Lyulkin, founder of The Dean’s List newsletter.American Hartford Gold offers a diverse range of investment-grade silver products, including popular options like American Silver Eagles, Canadian Maple Leafs, and high-weight silver bars up to 100 oz.
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