Gold (GC=F) futures opened at $5,179 per troy ounce on Wednesday, up 1.1% from Tuesday’s closing price of $5,120.60. This was gold’s first open above $5,100 per ounce, and the yellow metal’s price then surged over $5,300 in early trading. Gold set new records after President Trump brushed off concerns about the U.S. dollar’s latest decline, describing the dollar as “great.” The U.S. Dollar Index (DX-Y.NYB) is down over 2% in the last five days and nearly 11% in the last year. Evolving U.S. foreign rela ...

Core Insights - Gold futures have reached an unprecedented level, surpassing $4,000 an ounce for the first time, indicating strong investor interest despite high prices [1][3] - The current gold rally occurs alongside a robust U.S. stock market, suggesting that investors are using gold as a hedge against high equity valuations [2] - The demand for gold is primarily driven by retail investors, with significant increases in first-time buyers and account openings reported [5][6] Market Performance - On Tuesday, gold for December delivery peaked at $4,014.60 an ounce, closing at $4,004.40, marking a nearly 52% increase year-to-date [3] - BullionVault reported that its Gold Investor Index rose to 54.9 in September, indicating a stronger sentiment among private investors [4] Investor Behavior - There has been a notable increase in first-time investors, with new account openings at BullionVault rising 87.6% from the previous month and 213.5% year-over-year [5] - The demand for gold is currently outpacing supply, driven by a dovish Federal Reserve and concerns over the U.S. dollar's stability [6]