Gold markets hit record highs as prices pass $4,600 an ounce

Gold prices surpassed $4,600 an ounce, a record peak for 2026, with rising geopolitical tensions and expectations of looser US monetary policy cited as drivers.

Gold prices rose past $4,600 an ounce on Monday, marking the first record peak of 2026. The article links the surge to escalating geopolitical tensions and market expectations of looser US monetary policy. Large buyers and institutional investors commonly trade through big banks, and spot prices reflect real-time supply and demand. London is described as the most influential hub for spot trading, while China, India, the Middle East and the United States are noted as other major centres. Key points: - Price: Gold surpassed $4,600 an ounce, a record peak in 2026. - Drivers: The article reports geopolitical tensions and anticipation of looser US monetary policy as contributors to recent gains. - Markets and venues: The London Bullion Market Association sets standards for the over-the-counter spot market; COMEX is identified as the largest gold futures market by trading volume; the Shanghai Futures Exchange and TOCOM are cited as major Asian venues. - Investment flows: Global gold ETFs recorded record inflows in 2025 of $89 billion, led by North American funds, according to World Gold Council data. - Central bank demand: Net central bank purchases were reported at 45 metric tons in November and 297 tons in the first 11 months of 2025, and China increased holdings to about 74.15 million troy ounces at the end of December. Summary: The record price reflects a mix of investor demand, fund flows and central bank buying amid geopolitical uncertainty and policy expectations. How prices will evolve from here is undetermined at this time.