Gold rises after topping $5,000 for the first time in 'breathtaking and profoundly scary' rally

Group 1: Gold Price Surge - Gold prices have risen significantly, breaking above $5,000 an ounce earlier than expected, raising concerns about the rapid increase in precious metals [1] - The surge in gold prices is attributed to the "debasement trade," where investors seek assets to protect against purchasing power erosion due to rising government debt [1][2] - Gold has rallied 15% year-to-date, following a 65% surge in 2025, indicating strong market interest [5] Group 2: Market Dynamics - The US dollar has started the year on a downward trend, reaching a four-month low, which could further boost gold prices as it enhances the purchasing power of non-dollar buyers [3] - Goldman Sachs has raised its year-end gold price target from $4,900 to $5,400, citing increased participation from private investors looking to diversify portfolios [4] - The rise in precious metals is seen as part of a broader bubble, with significant increases in other metals like silver and platinum, which have also reached new highs this year [6][7]