Gold has hit a new record high above $5,100 an ounce on Monday, January 26, 2026.
Spot gold went up 2.2% at $5,089.78 per ounce, after earlier touching an all-time high of $5,110.50.
US gold futures for February delivery also gained the same amount to $5,086.30 per ounce.
Gold began 2025 at around $2,640 and climbed to $3,200 by April 2025.
US President Donald Trump has threatened to impose increased tariffs on eight European countries starting February 1, 2026, unless the US is allowed to purchase Greenland, fueling fears of a renewed trade war.
Over the weekend, he said he would impose a 100% tariff on Canada if it followed through on a trade deal with China.
Gold hits new all-time high of $4,700
In the first two weeks of 2026, silver gained about 20%, boosting profits compared to previous years.
Analysts expect gold prices to climb further toward $6,000 this year on mounting global tensions as well as strong central-bank and retail demand.
The world’s largest gold producers at present are China, Australia, the United States, South Africa, Peru, and Russia.
Prices have set consecutive record peaks over the past week and have already risen more than 18% this year.
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Source:
www.ghanaweb.com