Gold Eyes $5,600: What Rising Prices Mean for Investors and Businesses Seeking Safety in Turbulent Markets
Gold prices surged on Thursday, hovering just below $5,600 per ounce as investors sought refuge amid growing geopolitical and economic uncertainties. Silver also experienced a significant increase, surpassing $120 per ounce.
Spot gold rose 2.7% to $5,546.29 an ounce by 07:52 GMT, after reaching a record peak of $5,594.82 earlier in the session. Meanwhile, US gold futures for February delivery climbed 4.5% to $5,539.20, having touched an all-time high of $5,626.80.
This marked the ninth consecutive session of gold reaching record highs, with the metal up more than 27% in 2026 alone, following a 64% rally in 2025. The surge in safe-haven demand is driven by escalating geopolitical tensions, rising US debt, and concerns about the Federal Reserve’s independence amid political pressures and leadership uncertainties.
Additional support for gold came from robust central bank purchases and a weakening US dollar. Earlier this week, gold crossed the $5,000 threshold for the first time, marking an increase of over 10% just this week.
Silver also gained momentum, with spot silver rising 1.4% to $118.25 an ounce after hitting a record high of $120.45 during the day. The rise is attributed to strong investor demand, constrained supply, and momentum buying. Silver’s price has surged over 60% in 2026 so far.
Other precious metals also saw gains, with spot platinum increasing 2.8% to $2,770.49 an ounce and palladium rising 1.6% to $2,107.37.—Reuters
Special Analysis by Omanet | Navigate Oman’s Market
The historic surge in gold and silver prices signals heightened global economic and geopolitical uncertainty, driving investors toward safe-haven assets. For businesses in Oman, this presents a strategic opportunity to capitalize on rising demand for precious metals and related financial products, while also preparing for potential volatility in markets influenced by geopolitical shifts. Smart investors should consider diversifying portfolios into gold and silver to hedge against currency risks and geopolitical instability, capitalizing on central banks’ continued support and the weakening dollar.
