Gold has rewritten the rulebook on what a precious metals rally looks like. A year ago, the metal was trading at a price of about $2,624 per ounce, which, in hindsight, looks almost quaint. The precious metal set dozens of new all-time highs over the course of 2025 alone, effectively averaging nearly one record per week. By the time January 2026 arrived, gold had surged past $5,000 per ounce for the first time before hitting an all-time high of $5,589.38. It now sits just above $5,400 — a gain of more than 100% in just 12 months. The forces behind that climb aren't going anywhere, either. Central banks continued to ... (full story)