Gold’s relentless rally puts US$6,000 in sight

Market expectations: People queue outside an ABC Bullion store in Sydney, Australia. Gold’s rise above US$5,000 an ounce is down to geopolitical risks and renewed threats to the US Federal Reserve’s independence, among other things, experts say. — Bloomberg

LONDON: Analysts expect spot gold prices, which hit a record high above US$5,000 per ounce yesterday, to climb further towards US$6,000 this year on mounting global tensions as well as strong central bank and retail demand.

Gold raced to a peak of US$5,092.70 as geopolitical and economic risks rattled markets. The safe-haven metal is up more than 17% this year, after soaring 64% in 2025.