Gold, a key go-to in times of turmoil, has surpassed the $5,000 mark. The price of gold surged past the $5,000 mark (R80,105) for the first time ever on Monday, amid global economic uncertainty and recent market interventions in Japan, which have driven up ‘safe haven’ demand. The Japanese yen surged on Monday after reports that Japanese authorities and the US Federal Reserve were in discussions over the currency, signalling possible market interventions.
This heightened global financial uncertainty is one of the drivers prompting investors to buy gold as a safe-haven asset. Also thanks in part to a weaker US dollar, gold hit a new peak of $5,111.07 on Monday, while silver also spiked above $109, AFP reported. Gold has risen by more than 15% since the beginning of 2026, and in 2025 it rose by around 64%.
The rush to safe havens has seen these precious metals hit numerous record highs of late, with traders largely spooked by geopolitical concerns, including US President Donald Trump’srecent warnings to Iranand theinvasion of Venezuelaearlier this year. “Over the past few days, gold’s price action has been textbook safe-haven behaviour,” said Fawad Razaqzada, market analyst at Forex.com. “Underlying demand for protection is still there. Confidence in the dollar and bonds look a bit shaky.”
