The price of gold is back on the rise and near an all-time high. Here’s why

Core Insights - Gold is experiencing a significant price increase, reaching $4,497.20 per ounce, which is close to its all-time high of $4,549.74 [1][2] - Since the beginning of 2026, gold has risen approximately 2.8%, following a remarkable 64% increase in 2025, the highest annual gain since 1979 [2] Geopolitical Factors - The rise in gold prices is attributed to heightened geopolitical volatility, particularly due to the U.S. military action against Venezuela to extradite President Nicolás Maduro [3][4] - The uncertainty surrounding U.S. foreign policy under President Trump, especially regarding military interventions, has led investors to seek safe-haven assets like gold [5] Economic Factors - Economic indicators also contribute to the demand for gold, including a contraction in U.S. manufacturing activity in December and potential increases in the jobless rate [6]