Core Insights - Gold prices surged by 3.5% on Monday, reaching a record $4,359.40 per ounce, marking the largest daily percentage gain since April 9, 2020 [1][2]. Market Dynamics - The recent surge in gold prices is attributed to several factors, including a fragile cease-fire in Gaza, central banks buying the dip, and increased demand from institutional investors in a supply-constrained market [3]. - The U.S. dollar has become less attractive to central banks, with the dollar down about 9% against a basket of rival currencies in 2025, while gold prices have increased by approximately 65% year-to-date [4]. Production and Investment Trends - The rise in gold prices is prompting new mines to come online, and previously uneconomical mines are now looking to ramp up production due to improved profit margins [5]. - The SPDR Gold Shares exchange-traded fund (GLD) also gained 3.5%, closing above $400 for the first time in history [5].