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Gold Price Nears $5K Amid Geopolitical Tensions and Dollar Weakness

Gold Price Nears $5K Amid Geopolitical Tensions and Dollar Weakness

Author:

Global Cryptocurrency

Published:

2026-01-21 11:03:01

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Gold prices surged to a record $4,850 as escalating geopolitical tensions and a weakening US dollar drive investors toward safe-haven assets. The metal's relentless rally has analysts speculating a $5,000 breakthrough could occur before week's end.

Trade war anxieties intensified after new EU tariffs from the TRUMP administration, compounded by Greenland territorial disputes. These developments accelerated the dumping of US Treasuries, further pressuring dollar-denominated assets and fueling gold's ascent.

The precious metal's breakout coincides with notable capital rotations away from traditional markets. Mohamed El-Erian highlighted gold's record performance amid these macroeconomic crosscurrents, with the $4,700 threshold now firmly in the rearview.

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