Dawn
-
10:39 Jan 26, 2026
Gold surged to a record high above $5,100 an ounce on Monday, extending a historic rally as investors piled into the safe-haven asset amid rising geopolitical uncertainties. Spot gold was up 2.2 per cent at $5,089.78 per ounce by 6:56am GMT, 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. The metal soared 64pc in 2025, its biggest annual gain since 1979, driven by safe-haven demand, US monetary policy easing, robust central bank purchases including China’s fourteenth straight month of buying in December, and record inflows into exchange-traded funds. Prices have set consecutive record peaks over the past week and have already risen more than 18pc this year. The latest catalyst “is effectively this crisis of confidence in the US administration and US assets, that was set off by some of the erratic decision-making from the Trump administration last week”, said Kyle Rodda, a senior market analyst at Capital.com. US Pr...