Global Turmoil Drives Gold Prices Past $5,000 as World Grapples with AI, Trade Wars, and Social Unrest

Global gold prices surged past $5,000 an ounce for the first time ever, fueled by geopolitical instability, inflation, and central bank actions, according to multiple news sources. The historic rally occurred amidst escalating tensions between the U.S. and Canada, ongoing social unrest in Minneapolis, and advancements in artificial intelligence that are raising both excitement and concern.

The price of gold jumped by more than 60% in the last year as investors sought refuge in safe-haven assets, according to BBC Business. Heightened tensions between the U.S. and NATO over Greenland, coupled with worries about President Trump's trade policies, contributed to the surge. While Trump withdrew import taxes on countries linked to the Greenland row last week, he threatened to impose a 100% tariff on Canada if it strikes a trade deal with China, BBC Business reported.

Meanwhile, relations between the U.S. and Canada have been strained by trade disputes and Canada's strengthened ties with China, according to Al Jazeera. Trump has threatened tariffs against Canada, adding to the global economic uncertainty.

Domestically, the U.S. is facing social unrest in Minneapolis following a fatal shooting by federal immigration agents during protests, according to the New York Times. The incident has prompted calls for investigation and the withdrawal of agents from the state, Al Jazeera reported. Ray Dalio, founder of Bridgewater Associates, warned that the U.S. is a "tinderbox" and risks a "more clear civil war" after the Minneapolis shooting, Fortune reported.

In the technology sector, Google is set to settle its Assistant spying lawsuit for $68 million, The Verge reported. The class-action lawsuit was spurred by a 2019 report about human contractors listening to recordings made when devices like Pixel phones or Google Home speakers were triggered inadvertently.

TikTok is also facing scrutiny, with a recent data center outage triggering a trust crisis for its new U.S. owners, Wired reported. The technical issues led some users to speculate about whether the app's new owners were intentionally suppressing videos about political topics, particularly content related to recent federal immigration operations in Minnesota. TikTok has denied the allegations, attributing the problems to a power outage.

Amidst these challenges, the Caribbean nations are increasingly entering the cannabis industry through legalization efforts, aiming to capitalize on favorable conditions and cultural acceptance, according to multiple news sources. Jamaica and Antigua and Barbuda have legalized cannabis for medical and recreational use, leading to a rise in registered farms and dispensaries catering to both locals and tourists with medical authorization, BBC Technology reported.

In other economic news, the Treasury Department canceled $21 million in contracts with Booz Allen Hamilton after a contractor leaked confidential IRS data, revealing tax avoidance strategies of wealthy individuals, according to NPR News. This decision, impacting 31 contracts, follows the contractor's 2023 guilty plea and subsequent five-year prison sentence, causing Booz Allen's stock to fall by over 7% amid concerns about data security and government trust.