Gold Smashes USD5,000 Barrier for First Time

(MENAFN) Precious metals reached an unprecedented milestone as Comex February gold futures surged past the $5,000-per-ounce threshold during Sunday evening Globex electronic trading—marking the first time the commodity has breached this psychological barrier.

The rally intensifies as multiple economic pressures converge. A survey conducted by media reveals analysts maintain aggressive bullish positions, driven by escalating geopolitical conflicts, mounting anxiety over potential Federal Reserve political interference, and growing unease about overextended equity markets coupled with accelerating commodity price momentum.

Currency dynamics are fueling the surge. Market experts identified the U.S. dollar's persistent decline as the dominant catalyst propelling gold's historic ascent. Treasury securities face relentless selling pressure—whether nations deploy them as geopolitical weapons or offload holdings due to fiscal strain—accelerating the greenback's deterioration. Capital fleeing dollar-denominated assets is channeling directly into gold positions.

However, cautionary voices emerge amid the euphoria. Several analysts issued warnings that technical exhaustion or abrupt price reversals could materialize imminently, potentially disrupting the metal's vertical trajectory despite fundamentally supportive conditions.

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