Gold Powers Above $5,000 as Debasement Trade Gathers Pace.

Gold $XAU rose, holding above $5,000 an ounce for a second day, as geopolitical risks and a flight from sovereign bonds and currencies extended the metal’s rally.

Bullion climbed as much as 1.9% on Tuesday for a seventh straight day of gains, while silver jumped more than 9% before paring gains in US trading. A wave of investment demand has sent precious metals sharply higher this month, with silver up 50% since the start of January. Gold and platinum have also posted significant advances.