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CommoditiesHigh Impact•10 February 2026•

1 min read

Gold Surges Past $5,000, Propelling Mining ETFs Higher

World map with commodities like oil, gold, coffee, wheat, and metals, overlaid with an upward green arrow and financial charts.

Gold prices have surged remarkably, surpassing the $5,000 per ounce threshold, igniting a significant rally across the global gold mining sector. This upward momentum has positively impacted gold mining Exchange Traded Funds (ETFs), which have recorded substantial gains. Among the beneficiaries, Agnico Eagle Mines has seen considerable increases. The primary drivers behind this surge are a weakening US dollar and growing market expectations for upcoming interest rate cuts, which enhance gold's appeal as a safe-haven asset and reduce the opportunity cost of holding non-yielding bullion. Markets are now keenly awaiting upcoming US employment data and Agnico Eagle's earnings report for further direction. This breach of the $5,000 barrier represents a significant psychological and technical milestone, indicating strong bullish momentum for gold.