Gold Breaks Above $5,200 to a New Record High
Gold prices have reached a new all-time high, trading above $5,200 per ounce on Wednesday, January 28, 2026.
The rally is being driven by strong safe-haven demand as investors react to global economic and political uncertainty. Spot gold touched an intraday high of around $5,202.5 per ounce.
What’s Driving Gold Higher
A weaker U.S. dollar
Growing expectations that the Federal Reserve may cut interest rates
Ongoing geopolitical tensions, including trade risks and global conflicts
Market Performance Gold is up more than 18% so far this year. Other precious metals are also rising, with silver and platinum showing strong gains and silver trading close to its own record highs.
Outlook Analysts believe gold could move even higher, with many saying prices staying strong — or rising further — in 2026 looks more likely than a major drop.
