Gold jumps after the US Federal Reserve’s decision and reaches new record levels

The price of gold in spot transactions jumped to a level it had never reached before, reaching $5,511.79 per ounce today, Thursday.

By 00:39 GMT, the price of gold in spot transactions rose 1.2 percent to $5,511.79 per ounce, after reaching $5,591.61 earlier.

The price of gold had exceeded the level of $5,247 per ounce in early Wednesday trading, recording its highest level ever, and continuing a historic rising wave driven by increased demand for the yellow metal as a safe haven in light of the state of economic and geopolitical uncertainty.

Gold has risen by more than 21 percent since the beginning of 2026, which is in addition to gains achieved last year of more than 64 percent due to factors including continued demand for safe haven assets amid geopolitical and economic uncertainty, and strong central bank purchases.

Deutsche Bank and Société Générale expect gold prices to reach $6,000 per ounce in 2026, highlighting the prospects for further gains.

“Under alternative scenarios, an ounce price at $6,900 may actually be more in line with the very strong performance over the past two years,” Deutsche Bank said.

Morgan Stanley also said on Monday that gold may continue to rise, indicating the possibility of it reaching $5,700 per ounce.