Recently, gold prices have been going crazy, rising nearly 65% throughout 2025, marking the strongest annual performance since 1979. I saw that international gold prices once surged to $5,600 per ounce, which is also rare in history.

Now, returning to today's gold prices, spot gold remains firmly above $5,190, and has even broken through the recent high of $5,251. This week, gold prices fluctuated sharply between $5,093 and $5,281, mainly supported by risk aversion sentiment and inflation pressures. Compared to the same period in 2025, gold prices at the beginning of this year have indeed risen significantly, with major global investment banks all raising their forecasts, making high gold prices seem to have become the new normal.

Driven by the surge in international gold prices, I noticed that local gold shops in Malaysia are also jumping in price, with the retail price of 999 pure gold approaching a historic high of nearly 750 to 800 ringgit per gram. This sharp volatility has caused a polarization among gold shops: on one hand, investors holding physical gold are eager to cash out and exit; on the other hand, safe-haven funds are still buying gold bars at high levels, aiming to hedge before the arrival of the $5,000 era.

Because gold prices are changing too quickly, many gold shops have adopted strategies of quoting prices every half day or even real-time listings. Gold shops also warn that before the situation between the US and Iran clarifies, the local gold premium may continue to widen.

Market sentiment this week remains quite sensitive. On one hand, attention should be paid to the progress of US-Iran negotiations; if military mobilization escalates, gold prices may continue to rise. Conversely, if diplomatic breakthroughs occur, investors should be cautious of a retreat from high levels. On the other hand, watch out for the US non-farm payroll report delayed until March, as the market is observing whether the labor market weakens, which will influence whether the Federal Reserve will start cutting interest rates in June.

In terms of long-term returns, gold has increased by 204% over five years, and 26.92% over three months—these figures are quite impressive. If you want to trade spot gold, you can do so through online precious metals trading platforms, which are available nearly 24 hours from Monday to Friday. The trading hours for local gold futures contracts follow the Malaysia Exchange schedule: morning session from 9:00 to 12:30, afternoon session from 2:30 to 5:30, and after-hours trading is most active from 9:00 PM to 2:30 AM the next day.