The price of gold is about $5000 an ounce for the first time – and it’s not just investors in the commodity with a glint in their eyes. Money managers see fertile ground to do good business, reopening or launching gold funds as a wall of cash heads toward the safe haven asset amid worries the Trump administration’s economic plans spell trouble for sharemarkets.
Gold quoted in the local currency, a measure widely used by Australian miners, hit $5028 an ounce on Tuesday while the more widely quoted US dollar price also reached an all-time high above $US3133 an ounce.
Source: https://www.afr.com/markets/commodities/gold-soars-to-5000-in-once-in-40-year-gift-for-investors-fundies-20250401-p5lo4u