"In October, gold hit a significant milestone, reaching $4,000 an ounce for the first time. Less than four months later, the precious metal is well on its way to $4,900 an ounce in an astonishing push that shows no signs of stopping. Late Tuesday, January 20, gold hit a new record high of $4,800 an ounce, and by Wednesday morning, it rose to over $4,880 an ounce-up more than 12% year-to-date (YTD) and up about 76% over the last 12 months."
"A report from the London Bullion Market Association (LBMA) predicts gold could trade anywhere between $3,450 and $7,150 an ounce in 2026. Analysts surveyed by the LBMA predict wildly different figures, with Robin Bhar of RBMC forecasting an average of $4,000 per ounce, and Julia Du of the ICBC Standard Bank predicting an average of $6,050 per ounce. Silver has also continued its surge right alongside gold. The precious metal surpassed $95 per ounce for the first time on Tuesday."
"Why do gold and silver continue to rise? Gold and silver are seen as safe-haven assets at a time of intense geopolitical uncertainty. This week has seen President Donald Trump continue his push to take Greenland by whatever means necessary. Today, he is attending the World Economic Forum in Davos to further his demands, and push back against European leaders who oppose them. Over the weekend, Trump threatened tariffs of up to 25% on eight European countries, including the United Kingdom and Denmark."
Gold reached $4,000 an ounce in October and climbed to a record $4,800 on January 20, rising above $4,880 by the following morning, up more than 12% year-to-date and about 76% over the last 12 months. The LBMA projects a 2026 gold trading range of $3,450 to $7,150 per ounce, while surveyed analysts' averages span roughly $4,000 to $6,050 per ounce. Silver surpassed $95 per ounce for the first time, gaining about 34% YTD and more than 201% year-over-year. Analysts' silver forecasts range widely, reflecting divergent market views. Safe-haven demand and geopolitical tensions are cited as drivers.
Read at Fast Company
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