Gold Bonanza 2025: Price Soars Past $4,400 as Diamond District Frenzy Hits New York – Is $5,000 Next?
Gold hit a record $4,381 per ounce on Oct. 20 and traded near $4,300 on Oct. 21, up about 60–63% in 2025. Central banks and funds have poured $64 billion into gold ETFs this year, with retail sellers and buyers crowding New York’s Diamond District. Silver also reached a 14-year high at $54.5 per ounce. Major banks now forecast gold could reach $5,000 per ounce by 2026.