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We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Updated on: June 24, 2026 / 3:36 PM EDT / CBS News While the price of gold has declined over the last couple of months, the precious metal surged to multiple record highs in early 2026, even surpassing the $5,500 per ounce mark at one point, its uptick driven by a combination of inflation fears, geopolitical instability and growing skepticism about the long-term stability of paper assets. In turn, gold now looks less like a fringe hedge and more like a missing portfolio piece, particularly for retirement savers who have been watching their traditional investments absorb the market volatility. That's been particularly pronounced lately, especially considering that inflation is now sitting at its highest point since April 2023 and an interest rate hike is back in contention.
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