The price of gold soared above $5,000 an ounce for the first time ever, continuing a strong rally with a rise of over 60% in 2025. This comes amid rising global worries, including tensions between the US and NATO over Greenland, and US President Donald Trump's controversial trade policies. Trump recently threatened to impose a 100% tariff on Canada if it signs a trade deal with China. These concerns have driven investors to gold and other precious metals, seen as safe-haven assets in uncertain times. Silver also hit a record, breaking $100 an ounce after a nearly 150% rise last year. Factors boosting precious metals include high inflation, a weak US dollar, central bank buying, and expected US Federal Reserve interest rate cuts. Wars in Ukraine and Gaza, plus US actions in Venezuela, have added to the pressure. According to Nicholas Frappell from ABC Refinery, "When you own gold, it's not attached to the debt of somebody else like a bond is or an equity where the performance of a company will drive performance." Gold’s rarity also adds to its appeal, with about 216,265 tonnes mined so far—enough to fill three to four Olympic swimming pools. Susannah Streeter from Wealth Club said gold "seems to know no bounds" amid ongoing political uncertainty. Experts note that lower interest rates reduce returns on other investments, pushing more money into gold. Central banks worldwide have bought hundreds of tons of gold last year, signaling a shift away from the US dollar. However, Frappell warns the gold market could face drops if positive news reduces uncertainty. Beyond investment, gold remains culturally important, especially in India and China, where it is often bought during festivals like Diwali and Chinese New Year for luck and wealth. Indian households hold gold worth $3.8 trillion, about 88.8% of India’s GDP, according to Morgan Stanley.