Washington [US], January 26: Gold prices surpassed $5,000 per ounce for the first time, continuing their historic rally as investors flocked to safe-haven assets amid rising geopolitical tensions and financial instability.
Spot gold prices rose 0.85% on January 26, to $5,024.95 per ounce, while February gold futures contracts in the US increased 0.91% to $5,024.60 per ounce, according to Reuters.
Some experts believe it's only a matter of time before gold prices surpass $6,000 per ounce. Independent analyst Ross Norman stated: "Our forecast for 2026 is that gold prices could peak at $6,400 per ounce and average around $5,375 per ounce."
In 2025, gold prices rose by as much as 64%, supported by loose US monetary policy , strong buying demand from central banks - with China buying gold for the 14th consecutive month - and record inflows into ETFs.
In the precious metals market , spot silver prices rose 1.85% to $104.85 per ounce, after briefly surpassing the $100 per ounce mark on January 23. Platinum prices edged down 0.21% to $2,762.25 per ounce, while palladium gained 0.22% to $2,014.50 per ounce.
Analysts believe that the sharp rise in silver and gold reflects lingering expectations of geopolitical instability and the risk of weakening the global financial system in the near future.
The "sell-off" of US assets, including Treasury bonds and the US dollar, is the main driver behind the rise in gold and silver prices. Confidence in US assets has declined due to tensions between Washington and Europe over Greenland, along with continued pressure from President Donald Trump on the Federal Reserve ( Fed ).
In addition, geopolitical tensions continue to cast a shadow over the markets. In Europe, Russia and Ukraine concluded their second day of US-mediated talks in Abu Dhabi (United Arab Emirates) on January 24 without reaching an agreement, while hostilities continued to escalate.
In North America, President Donald Trump announced he would impose a 100% tariff on Canada if Ottawa signed a trade agreement with China, a move seen as increasing risks to the global economic outlook.
Source: Thanh Nien Newspaper
