Drill and Deal

News / 2026

· Markets, Gold

Gold passes $5,000 an ounce for the first time

Spot gold climbed above $5,100 an ounce, extending a rally driven by geopolitical tensions and central bank buying. Gold had first crossed $4,000 in October 2025.

A gold ingot and bar on display at the Banque de France in Paris, 2022
Photo: Ibex73, CC BY 4.0

Why it matters. With gold at record highs, the margins of most producers widen sharply, which supports deals and higher reserve prices.

Source
CNBC
In the course
Module 4: Metal markets