Gold surges past $5,200 as dollar hits four-year low and safe-haven demand jumps

Gold extended a sharp rally and pushed beyond $5,200 an ounce, as the US dollar hovered near a four-year low and investors continued to favour safe-haven assets, according to market figures cited in the report.

The article said spot gold rose around 1% in early trade and set fresh records, after gaining more than 3% in the prior session. US gold futures for February also advanced strongly. A senior analyst quoted in the piece attributed the move to gold’s inverse relationship with the dollar, arguing that market interpretations of White House messaging reinforced expectations for a weaker greenback.

The report linked the broader market mood to weakening US consumer confidence, described as falling to its lowest level in more than 11 years, alongside ongoing worries about jobs and prices. It also noted that President Donald Trump downplayed the dollar’s decline and said he would soon announce a pick to lead the US central bank, while expectations remained that the Federal Reserve would hold interest rates steady at its ongoing meeting.

The dispatch added that investment banks were turning more bullish, citing a Deutsche Bank view that gold could climb toward $6,000 an ounce in 2026 amid continued demand for tangible and non-dollar assets. Silver was also reported higher, with the metal already far up for the year after hitting record levels earlier in the week.