der Gipfel
peak
The highest point of a mountain.
Nach einem anstrengenden Aufstieg erreichten die Wanderer endlich den Gipfel.
After a strenuous climb, the hikers finally reached the peak.

summit / peak
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peak
The highest point of a mountain.
Nach einem anstrengenden Aufstieg erreichten die Wanderer endlich den Gipfel.
After a strenuous climb, the hikers finally reached the peak.

You can recognize the meaning of 'Gipfel' (summit/peak) from the context. If it is about mountains and nature, it means the mountain peak. In the context of politics and business, it means a meeting of leaders. In connection with negative nouns like 'Frechheit' (insolence), it expresses a peak of annoyance or outrage.
Die Aussicht vom Gipfel war atemberaubend.
The view from the peak was breathtaking.
When referring to a mountain, typical verbs are 'einen Gipfel erreichen' (to reach a peak), 'einen Gipfel besteigen' (to climb a peak), or 'auf dem Gipfel stehen' (to stand on the peak).
Wir wollen morgen den Gipfel besteigen.
We want to climb the peak tomorrow.
In the political meaning, 'Gipfel' (summit) is often used as part of compound nouns, for example 'EU-Gipfel' (EU summit), 'Klimagipfel' (climate summit), or 'Wirtschaftsgipfel' (economic summit).
Die Ergebnisse des Klimagipfels waren enttäuschend.
The results of the climate summit were disappointing.
To express a negative high point, the fixed expression 'der Gipfel der ...' (the height of ...) or 'der Gipfel von ...' (the height of ...) is used. It is followed by an abstract noun such as 'Frechheit' (insolence), 'Dummheit' (stupidity), or 'Ignoranz' (ignorance).
Dass er die Schuld auf andere schiebt, ist der Gipfel der Frechheit.
The fact that he blames others is the height of insolence.
tip / top / lace
'die Spitze' and 'der Gipfel' can both mean the highest point of a mountain. In this sense, they are often interchangeable. 'der Gipfel' is especially typical when talking about mountains and hiking. 'die Spitze' sounds a bit more general and can also mean the topmost or pointed part of other things. But when it is clearly about a mountain, both words are easy to understand.

Vom Gipfel aus sieht man das ganze Tal.
From the peak, you can see the whole valley.
Nach drei Stunden erreichten wir die Spitze des Berges.
After three hours, we reached the peak of the mountain.