Gold tipped to hit $6,000 this 12 months after contemporary report excessive of greater than $5,300 per ounce

Gold extended its sparkling new year run yesterday to reach more than $5,300 per ounce – a fresh record that prompted speculation that it will hit $6,000 this year.

The rally, prompted by a flight to safety amid waning appetite for the US dollar, meant it has gained nearly $1,000, or 23 per cent, in 2026.

That builds on a stunning rise which had already seen it climb by 64 per cent in 2025. If it hits $6,000 it will have doubled in value since hitting $3,000 less than a year ago in March 2025.

Yesterday’s rally alone added as much as $122, or 2.3 per cent, to its value. It later edged below $5,300 but was still sharply up on the day.

Silver has also benefited and climbed by as much as 2.7 per cent to $116 yesterday. It is up 62 per cent this year after a 147 per cent rally in 2025.

And the Swiss franc – another safe haven – also gained, climbing to more than $1.31 on Tuesday, its highest in a decade, before partially retreating yesterday.

Solid assets: Gold has topped $5,300 per ounce – a fresh record high – prompted by a flight to safety amid waning appetite for the US dollar

AJ Bell investment director Russ Mould said: ‘At this rate, gold bugs will be eyeing the $6,000 mark before the end of the year.’

Emma Wall, chief investment strategist at Hargreaves Lansdown, noted that central banks have ‘favoured gold as their reserve currency of choice, which they believe insulates them from US policy dependence’.

Chris Beauchamp, chief market analyst at IG, said: ‘So long as international investors keep dumping the dollar, the future for gold looks bright indeed.’