Gold price today: Gold hits $5,110 record as tariff threats and Fed drama jolt markets

Gold surged past $5,100 an ounce Monday, marking another record and climbing roughly 18% this year after a staggering 64% jump in 2025. Silver and platinum also reached new highs. Spot gold, which reflects immediate delivery prices, was up 1.9% at $5,076.43 by 11:37 a.m. ET, after hitting $5,110.50; U.S. February futures rose 1.9% to $5,074.10. Meanwhile, spot silver hit an all-time peak at $113.61. Ryan McIntyre, president of Sprott Inc, attributed the rally to ongoing geopolitical and economic uncertainty, along with steady central bank buying and renewed inflows into physically backed bullion ETFs.