Gold Shatters USD5,000 Threshold
By 0645GMT, spot gold had climbed approximately 2.5% to settle at $5,070 per ounce, marking a dramatic reversal from earlier losses.
The yellow metal had plummeted beneath $4,500 on Monday after US President Donald Trump designated former Federal Reserve governor Kevin Warsh as his choice to lead the central bank.
Silver mirrored the rally, jumping 3.7% to reach $88.2 per ounce.
January proved historic for gold investors, with prices soaring 13.2%—the strongest single-month gain recorded since September 1999. Global geopolitical turbulence fueled the unprecedented climb.
Mounting friction between Washington and European allies over American ambitions to acquire Greenland, combined with unchanged Federal Reserve policy stance and mounting concerns over potential dollar weakness, propelled bullion to new heights.
The precious metal opened 2026 trading at $4,313 per ounce before rocketing to an all-time peak of $5,598 last week, underscoring intensifying demand for safe-haven assets amid economic uncertainty.
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