The gold price reached yet another record high on Thursday (February 20), breaking US$2,950 per ounce. The yellow metal rose as high as US$2,954.72 before pulling back to the US$2,935 level, pushed upward by ever-increasing global turmoil,

The price of gold has been bursting through records in the first month of Mr. Trump’s second term, recently trading at more than $2,900 per troy ounce. It is up about 12 percent already this year, on top of a 27 percent gain last year. Many strategists are upgrading their forecasts, predicting more gains ahead.

Gold approaching $3,000 an ounce is priced so far ahead of inflation that the yellow metal GC00 is unlikely to produce a positive real (inflation-adjusted) return in coming years.