The gold price surpasses the $4,900 mark as the metals rally continues

Source: CritpoTendencia Original Title: The gold price surpasses the $4,900 barrier as the metals rally extends Original Link: This Thursday, the metals rally gained new momentum, with the gold price reaching record highs by trading for the first time above $4,900 per ounce. Meanwhile, other metals such as silver and platinum also show strong performance, consolidating a clearly favorable scenario for safe-haven assets.

Among the factors explaining this new jump are persistent geopolitical uncertainty, the sustained weakening of the dollar, and the upcoming Federal Reserve meeting. This Federal Open Market Committee (FOMC) meeting will be key to market balance in the coming weeks.

For now, market consensus indicates that the central bank will keep interest rates unchanged. This scenario is usually less attractive for equities and cryptocurrencies. Thus, the combination of monetary uncertainty and political tensions keeps investors away from risk.

In this context, capital flowing out of the most volatile assets seeks refuge in reserve-like instruments, such as precious metals. This explains why the gold price advances in line with the increase in global nervousness.

According to CNBC data, during the last hours of this Thursday, gold surpassed $4,946 per ounce, while silver is trading around $96 per ounce.

How far will the gold price rally extend?

It remains difficult to predict the ceiling of the metals rally in general and gold in particular. However, the $5,000 per ounce target seems increasingly close and could be reached in a relatively short period. Until a few months ago, this level was considered an extreme forecast.

The fundamentals supporting this movement, such as the structural weakness of the dollar, continue to favor hard assets. Practically speaking, numerous instruments denominated in U.S. debt are being steadily liquidated.

This phenomenon is partly linked to political factors, such as tensions caused by President Trump’s expansionist stance regarding Greenland.

In this context, the narrative known as “sell America” gains strength, pressuring the dollar and reinforcing the appeal of gold. This trend reflects growing discontent among certain European economic actors, who have begun reducing their exposure to U.S. assets as a form of political and financial protest.

One of the most relevant cases is a Danish pension fund, which reportedly liquidated U.S. bonds worth about $100 million. If this dynamic continues, the effects could deepen.

In fact, major U.S. stock indices, such as the S&P 500 and the Nasdaq Composite, recorded some of their worst days since October and are already trading in negative territory so far in 2026.

In contrast, the cryptocurrency market shows a more contained reaction. For now, BTC remains stable and is trading below $90,000 at the time of writing, reflecting a pause as investors assess the impact of the new macroeconomic scenario.