Record gold prices drive mass sell-offs of British gold sovereigns in Greece, with Bank of Greece data showing sales far outpacing purchases amid global economic uncertainty.

Goldman Sachs has raised its forecast for gold prices in December 2026 to $5,400 an ounce from $4,900, citing sustained central bank demand.

Gold surged 1.8% to 4,409.84 dollars an ounce, while silver jumped 3.5% to 75.38 dollars. Platinum and palladium each gained about 2%.

Other precious metals also advanced. Silver surged as much as 3.4%, reaching record levels just shy of 70 dollars an ounce, while palladium jumped 5%.

Gold, traditionally viewed as a safe haven, has jumped 59% since the start of the year.

In an increasingly unstable world, gold reserves serve as a safe haven, and central banks are building their holdings at a frenzied pace.