On January 26, the price of gold on international markets surpassed 5000 dollars per ounce for the first time in history, driven by escalating geopolitical tensions, reports Reuters. On Monday morning, the value of the precious metal reached 5029 dollars per ounce.
Analysts, as noted by the agency, predict further increases in gold prices, which traditionally become a focus of investor interest during times of instability. Key factors contributing to this include the escalating conflicts between the U.S. and NATO regarding Greenland, as well as the ongoing conflict between Russia and Ukraine.
Additionally, according to Reuters, the demand for gold has been influenced by a warning from the U.S. about the possibility of imposing a 100% tariff on imports from Canada if that country signs a trade agreement with China.
In 2025, as Reuters reminds, the price of gold increased by 64% due to the easing of U.S. monetary policy, rising demand from the People's Bank of China, and high investor interest in precious metals.
According to Bloomberg, since the start of the conflict between Russia and Ukraine in 2022, the value of gold reserves held by the Central Bank of Russia has increased by more than 216 billion dollars. Gold now accounts for about 43% of the Bank of Russia's reserves, whereas before the war, its share was 21%.
Russia is one of the leading gold producers in the world. However, as a result of the sanctions imposed due to the start of the war, access to Russian gold in international markets has become significantly restricted.
