# SPDR Gold Shares

Gold Surges Past $4,700 as Geopolitics and ETF Flows Drive a New Bull Run — Can It Last?

Gold hit record highs above $4,700 on January 20, driven by geopolitical concerns and strong ETF inflows, with Chinese retail jewellery prices following suit. Strategists see a plausible longer-term bull case for gold but warn of short-term overbought readings and the potential for sharp corrections, especially in silver.