Breaking: Gold Shatters Records at $5,500
Gold prices have surged, with spot gold surpassing $5,500 per ounce for the first time in history on Thursday, January 29, 2026, driven by a weakening U.S. dollar and geopolitical uncertainty. The precious metal has been on a record-breaking rally, nearly doubling its price from early 2025.
Key Insights
Record Highs: The price of gold reached a historic high of over $5,500 per ounce this week, extending a significant rally fueled by investors seeking safe-haven assets.
Driving Factors: The surge is largely attributed to the U.S. dollar's slide to a four-year low, ongoing geopolitical tensions (including U.S. actions in Venezuela, Iran, and Greenland), and expectations surrounding the Federal Reserve's monetary policy decisions.
Investor Sentiment: Investors are moving away from traditional currencies and bonds due to economic uncertainty and inflation concerns, increasing demand for gold and other precious metals like silver, which also hit a new high.
Policy & Politics: The Federal Reserve held interest rates steady at 3.50%–3.75%, a non-unanimous decision that reinforced expectations for potential easing later this year, further supporting gold prices.
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