Gold climbed above the historic US$5,000-per-ounce threshold for the first time, trading at US$5,029.39 (€4,238.50) around 23:40 on Sunday. The rally, which has persisted for about two years, is being driven primarily by safe‑haven demand amid geopolitical, trade and monetary-policy uncertainty tied to Donald Trump’s presidency and by a weakening US dollar. The move underscores gold’s role as an inflation and risk hedge and has implications for asset allocation, currency-sensitive investors and central‑bank policy expectations.