Gold, Silver ETFs and Stocks Jump as Gold Tops $5,100, Silver Nears $110

Gold surged to a record high above $5,100 an ounce on Monday, extending a historic rally as investors piled into the safe-haven asset amid rising geopolitical uncertainties.

Gold, silver ETFs and stocks jumped in premarket trading. Hecla Mining rose 6%; Coeur Mining, Newmont, Gold Fields, and Barrick Mining rose 4%; Agnico Eagle Mines, Kinross, and Harmony Gold rose 3%; Gold Trust Ishares, ProShares Ultra Gold, and Anglogold Ashanti rose 2%.

ProShares Ultra Silver rose 13%; Hycroft Mining rose 8%; iShares Silver Trust rose 7%; Pan American Silver rose 6%; First Majestic Silver and Endeavour Silver rose 5%; Fortuna Silver Mines rose 4%.

Spot gold were up 2.2% at $5,089.78 per ounce by 0656 GMT, after earlier touching an all-time high of $5,110.50. U.S. gold futures for February delivery also gained the same amount to $5,086.30 per ounce.

The metal soared 64% in 2025, its biggest annual gain since 1979, driven by safe-haven demand, U.S. monetary policy easing, robust central bank purchases including China's fourteenth straight month of buying in December, and record inflows into exchange-traded funds.

Prices have risen more than 17% this year.

Spot silver advanced 4.8% to $107.903, after hitting a record of $109.44. Spot platinum climbed 3.4% to $2,861.91 per ounce, after hitting a record high of $2,891.6 earlier in the session, while spot palladium was 2.5% higher at $2,060.70, having touched a more than three-year high.

Silver climbed above the $100 mark for the first time on Friday, building on its 147% rise last year as retail-investor flows and momentum-driven buying compounded a prolonged spell of tightness in physical markets for the metal.

U.S. President Donald Trump abruptly stepped back on Wednesday from threats to impose tariffs on European allies as leverage to seize Greenland.

Over the weekend, he said he would impose a 100% tariff on Canada if it followed through on a trade deal with China.

He has also threatened to hit French wines and champagnes with 200% tariffs in an apparent effort to pressure French President Emmanuel Macron into joining his Board of Peace initiative. Some observers fear the board could undermine the United Nations' role as the main global platform for conflict resolution, though Trump has said it will work with the U.N.

Meanwhile, a rising yen dragged the dollar broadly lower early on Monday, with markets on alert for possible intervention in the yen and investors cutting dollar positions ahead of this week's Federal Reserve meeting.

A weaker dollar makes greenback-priced gold more affordable for holders of other currencies.

Analysts expect gold prices to climb further toward $6,000 this year on mounting global tensions as well as strong central-bank and retail demand.