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Gold prices surge to record $5,100 on Monday
Aya Anwar Published in Amwal Al Ghad on 26 - 01 - 2026

Gold prices surged to a fresh record above $5,100 an ounce on Monday, extending a historic rally as investors flocked to the haven amid heightened geopolitical and market uncertainty. Spot gold rose 2.2 per cent to $5,089.78 per ounce by early trade, after touching an all-time high of $5,110.50, while US gold futures gained a similar amount to $5,086.30.
The metal has already climbed more than 18 per cent this year, building on a 64 per cent surge in 2025, its strongest annual performance since 1979. The rally has been fuelled by safe haven demand, expectations of looser US monetary policy, heavy central bank buying, including China's fourteenth consecutive month of purchases in December, and record inflows into gold-backed exchange-traded funds.
Market jitters have intensified following erratic policy signals from the US administration, including shifting tariff threats involving Europe, Canada, and France, which analysts say have undermined confidence in US assets and pushed investors towards gold.
A weaker dollar also supported prices, as a rising yen dragged the greenback lower ahead of this week's Federal Reserve meeting, making dollar-priced gold more attractive to non-US investors.
Analysts expect further upside this year, with some forecasting a move towards $6,000 an ounce on sustained global tensions and strong central bank and retail demand, despite the likelihood of short lived pullbacks.
Other precious metals also rallied, with spot silver jumping 4.8 per cent to $107.90 after hitting a record high, platinum climbing 3.4 per cent to $2,861.91, and palladium rising 2.5 per cent to $2,060.70. Silver has gained sharply on tight physical supply and strong retail investor demand, after surging 147 per cent last year.
Attribution: Reuters

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