PHOENIX (AZFamily) — Gold prices reached a record high this week, climbing above $5,000 per ounce and marking a significant milestone for the precious metal market.
The surge represents a dramatic increase in recent years. In the last year, gold is up around 100%. At this time in 2025, gold was selling for less than $2,800 an ounce.
Market momentum and underlying concerns
Stephen Kates, a financial analyst with Bankrate, said multiple factors are driving gold to record levels.
“There is certainly an element of momentum to this, but there are underlying concerns about a variety of things, concerns about U.S. economic conditions, concerns over trade tensions, concerns about the level of debt the U.S. has,” Kates explained…