Weak dollar drives gold over $5,500 an ounce for first time, amid geopolitical and debasement fears – business live

2026-01-29 - 07:40

Rolling coverage of the latest economic and financial news The rise in precious metals prices is “breathtaking and profoundly scary”, warns Robin Brooks, senior fellow at Brookings Institute. He writes: The rise in gold is part of something much bigger... all precious metals prices are going through the roof and gold is a laggard compared to silver and platinum. At the same time, we’re seeing government bond markets in high-debt countries like Japan under severe pressure, even as there’s a flight to safety into countries with low debt like Sweden, Norway and Switzerland. Gold is therefore a symptom of something much bigger. We’re at the start of a global debt crisis, with markets increasingly fearful governments will attempt to inflate away out-of-control debt. Gold is just one of many assets that are getting a “safe haven” bid as part of this phenomenon. Continue reading...