Gold prices continue to climb following a record-breaking year in 2025

Gold prices are continuing to climb as demand for gold grows in an uncertain economy. Natalie Van Rooy reports.

Gold prices are setting new all-time highs as the cost of the commodity continues to climb following a record-breaking year in 2025.

In just one year, the cost of a one-ounce gold coin at an Ottawa jewelry store has more than doubled.

“Gold went from $2,100 an ounce Canadian to almost $7,000 an ounce so basically over three times the value,” said Brent Harden, the owner at La Maison D’Or Jewellers.

Harden hasn’t seen this much buzz over gold since he started in the business.

“In 1975, my brother and I started the business, and we invested money into gold at $300 an ounce,” he said. “We saw it go up to a $1,000 an ounce and you know what we sold it for? $330. We kept saying it’s going to go back up, it’s going to go back up, but it didn’t. It’s very unpredictable.”

Experts say gold is seen as a safe haven during economic uncertainty. Other factors like a low U.S. dollar and a tumultuous first year of U.S. President Donald Trump’s tariffs could also be at play.

“Central banks are buying more gold, and what that is going to be related to is a desire to diversify away from some of the traditional assets that they hold, like government bonds,” said Paul Calluzzo, an associate professor at Queen’s University.

As the rush continues, you can even get it at Costco. The corporate giant is advertising a one-ounce gold bar for more than $7,000.

What’s not clear is how long this rush could last.

“It might or might not last, that’s really hard to say,” Calluzzo said. “But I think a best practice in finance is diversification.”

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