The price of gold has reached an unprecedented milestone, soaring beyond $7,200 per ounce. This marks a remarkable increase, with its value climbing over 60 percent in 2025. Currently, an ounce of gold is valued at approximately $5,024 USD, equivalent to $7,271 AUD.

Industry experts anticipate that this upward trend will persist into 2026, driven by ongoing geopolitical uncertainties, particularly in the United States. “Our latest projections indicate that prices could peak at around $5,500 USD, or $7,960 AUD, later this year,” said Philip Newman, director at Metals Focus, in an interview with Reuters.

Additionally, independent analyst Ross Norman conveyed to the news outlet that gold prices might escalate even further, potentially reaching as high as $6,400 USD, or $9,263 AUD, per ounce within the year.

“Our current forecast suggests that prices will peak at around $US5500 ($7960) later this year,” Philip Newman, director at Metals Focus, told Reuters.

Independent analyst Ross Norman told the outlet gold prices are forecast to surge as high as $US6400 ($9263) per ounce this year.

He also predicted an average price of $US5375 ($7779) for the rest of the year.

The price of gold is surging because it’s a safe-haven asset.

That means it retains or increases in value during periods of market turbulence, which can be caused by geopolitical uncertainty.

Uncertainty caused by, for example, tensions between the US and NATO over US Trump’s Greenland plans, ongoing conflict between Ukraine and Russia despite US-brokered peace talks, and Trump’s many tariffs and regular threats to impose more.

All of this has sent investors flocking to gold, which won’t lose its value if tariffs or conflict tanks a specific market or currency.

Some everyday Australians have followed suit.

But small businesses like Juju Gems Jewellery in Sydney’s south have struggled as the price of gold keeps climbing.

“Every week we’re checking and the gold price has jumped, and it’s just adding a lot of extra work to us and making it really hard for us,” Cooper told 9news.com.au at the time.

“As a small business, we tend to cut costs by paying ourselves very minimum wages and that hurts, especially with the cost of living … it does feel like a major setback.”