Gold, silver, and platinum reach record highs amid global economic instability.
Gold, Silver, and Platinum Prices Soar to Record Highs Amid Global Uncertainty
On Friday, January 23, 2026, the prices of gold, silver, and platinum reached unprecedented record levels, driven by escalating geopolitical tensions and intensifying global economic uncertainties, which have diminished investor confidence in American assets.
Gold Approaching the $5,000 Threshold
The spot price of gold increased by 0.3%, settling at $4,951.91 per ounce, after hitting a new historic high of $4,966.59 earlier in the day. Meanwhile, U.S. gold futures for February delivery also saw a rise of 0.8%, reaching $4,952.80 per ounce.
Decline of the Dollar Boosts Metal Attractiveness
This surge in prices can largely be attributed to a decline in the dollar index, which has dropped to its lowest level in over two weeks, decreasing approximately 1% over the week. This makes precious metals priced in dollars more appealing to foreign investors.
Volatility on U.S. Stock Markets
Simultaneously, major indices on Wall Street experienced significant sell-offs early in the week due to concerns regarding potential tariffs on certain countries within the European Union. However, the markets did see a partial rebound later on.
