Gold tops $5,000 for first time ever, adding to historic rally

The price of gold has risen above $5,000 (£3,659) an ounce for the first time, extending a historic rally that saw the precious metal jump by more than 60% in 2025.

It comes as tensions between the US and NATO over Greenland have added to growing concerns about financial and geopolitical uncertainty.

Demand for gold has also been driven as the US Federal Reserve is expected to cut interest rates again this year and as central banks around the world have been buying it.

Gold is seen as a so-called “safe-haven” asset that investors buy in times of uncertainty and low interest rates.