Gold surges past $5,000 for first time as silver tops $107 on safe-haven buying
Gold surpassed $5,000 and silver hit $107 due to heightened risk aversion driven by geopolitical and economic tensions.Summary
Gold reached an unprecedented high, surging past $5,000 per ounce, driving its market capitalization above $35 trillion, as global markets experienced heightened risk-off sentiment amid ongoing economic and geopolitical tensions. These tensions include strained US-NATO relations, debates over Greenland, and fears of potential US military action against Iran, all reinforcing gold's appeal as a safe haven. Concerns over the Federal Reserve's independence following a Justice Department probe have also unsettled markets. In contrast to these gains, investor appetite for safety has negatively impacted crypto, with Bitcoin falling and the total crypto market cap declining. Silver has also rallied significantly, hitting a record high above $107, and is up roughly 47% year-to-date, outperforming gold's 17% gain.
(Source：Crypto Briefing)