Global gold prices have surpassed the USD 5,500-per-ounce threshold for the first time in history, reflecting heightened uncertainty in international financial markets.

Accordingly, the price of gold stood at USD 5,579 per ounce in early trading today (29).

On the previous day (28), gold was trading at USD 5,164 per ounce, marking a sharp increase within 24 hours.

Foreign market analysts attribute the sustained rise in gold prices to ongoing uncertainty surrounding the US dollar, prompting investors and central banks worldwide to increase gold investments and build reserves. This growing demand has continued to exert upward pressure on global gold prices.