Gold prices pushed to a fresh record near $5,600 an ounce on Thursday, extending a month-long surge that has started to look less like a rally and more like a stampede. Spot gold rose 2.2% to $5,516.71 an ounce by 4:47 a.m. ET, after touching a record $5,594.82 and marking a ninth straight session of fresh highs. U.S. February futures jumped 4% to $5,509.60 after a peak $5,626.80; bullion was set for a 28% January rise and is up more than 27% in 2026, with SPDR Gold Trust saying holdings climbed to 35,043,181 ounces, the highest since May 2022. “Gold’s perfect storm continues,” said Jamie Dutta at Nemo.money, while ActivTrades analyst Ricardo Evangelista said the metal could “move towards $7,000 by year-end” after a pause.