Gold breaks above $5,000 for the first time on Greenland tensions… “$6,400 seen this year” [Roundup]

Silver also recently tops $100

International gold prices have surpassed $5,000 per ounce for the first time ever.

Reuters reported that, as of 8:04 a.m. Korea time on the 26th (11:04 p.m. GMT on the 25th), the international spot gold price rose 0.75% from the previous session to $5,019.85 per ounce, pushing past $5,000. February-delivery gold futures at the same time gained 0.84% to $5,020.60.

Gold, a safe-haven asset, rose about 65% last year and has continued to climb this year amid escalating geopolitical tensions and a shift away from dollar-denominated assets.

In particular, analysts say this month’s push by U.S. President Donald Trump to annex Greenland heightened fears of an “Atlantic trade war” between the United States and Europe, helping drive gold higher.

Market analyst Ross Norman told Reuters that “gold could rise as high as $6,400 per ounce this year,” adding, “I forecast an average price of $5,375.”

Earlier, international silver prices on the 23rd topped $100 per ounce for the first time ever. According to Bloomberg, spot silver was trading at $104.8413 per ounce as of 8:45 a.m. Korea time on the 26th.

Silver, a precious metal, also sees strong demand as an industrial material widely used in advanced manufacturing such as artificial intelligence (AI) equipment, electric vehicles, solar power, and rechargeable batteries, leading to assessments that its upside price potential is greater than gold’s. Silver has surged more than 150% over the past year alone.

Jung-sam Koh, Hankyung.com reporter jsk@hankyung.com