Gold Price Breaks Records, Dips on Trade Hopes – Could $5,000 Gold Be Next?
Gold hit a record $4,381 an ounce last week before retreating to $4,060 on October 27, still up over 50% for the year. The surge was fueled by safe-haven buying amid global turmoil and expectations of Fed rate cuts. Central banks and ETF inflows supported demand. Prices dipped as geopolitical tensions eased and investors took profits.