Gold and Silver Reach New Record Numbers.. Up More Than 4% Amid Geopolitical Tensions
January 29, 2026216 ViewsRead Time: 2 minutes
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Gold and silver prices continued to rise today, Thursday, recording an increase of more than 4%, breaking their historical highs. The price of gold surpassed $5600 per ounce, while silver reached $119 per ounce.
April gold futures rose by 4.54% to $5582.69, hitting a peak of $5625.89 per ounce, while March silver futures increased by 4.15% to $118.237 per ounce, after previously recording $119.45.
Factors for the Rise
Analysts at OCBC Bank explained that rising government debt burdens, geopolitical concerns, and unpredictability in economic policies have enhanced gold's role as a safe-haven investment.
They added that gold is no longer just a means of hedging against crises or inflation, but is now viewed as a reliable neutral asset for storing value, providing diversification in investment portfolios.
Market Indicators
Gold broke the $5000 barrier for the first time last Monday, rising more than 10% since the beginning of the week, driven by strong demand for safe-haven assets and purchases from central banks, alongside a decline in the US dollar.
Tony Sycamore, a market analyst at IG, stated: "Although the nature of the rise suggests that a pullback is not far off, the fundamentals will remain supportive throughout 2026, making any decline an attractive buying opportunity."
Geopolitical Tensions
The rise comes amid ongoing geopolitical tensions following US President Donald Trump's call for Iran to come to the negotiating table regarding nuclear weapons, at a time when Tehran has vowed to respond to any US or Israeli attack.
