The recent surge in precious metals isn’t fool’s gold. Lina Thomas, commodities strategist with Goldman Sachs Research, said in a video posted on Thursday the swelling price of gold is more than hype.

“The rally remains grounded in fundamentals, not frenzy,” she said.

The price of gold has skyrocketed 65% in 2025 due to tariff-induced economic uncertainty that has led to the depreciation of the dollar once favored as a safe haven . On Friday, the asset reached another record high of about $4,242 per ounce following rising trade tensions between the U.S. and China and growing chatter around impending rate cuts. Central banks have also continued snapping up gold reserves to reduce exposure to greenbacks.

Goldman Sachs projects gold will reach $4,900 by the end of 2026.

While gold i

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