economy
January 30, 2026
Gold breaks new record
The price of gold has hit an all-time high of $5,600 amid geopolitical and economic uncertainties
TL;DR
- Gold futures reached a record high of $5,600 per troy ounce for the February 2026 Comex contract.
- Silver futures also extended their rally, surpassing $119 per troy ounce for the March 2026 Comex contract.
- Both gold and silver have surged over the past year, viewed as safe-haven assets during market turbulence.
- Gold prices increased by over 60% in 2025, and silver prices climbed 127% in 2025.
- Analysts cite escalating geopolitical tensions, such as US warnings to Iran, as a key driver.
- Tether's plan to allocate 10-15% of its investment portfolio to physical gold also supported the rally.
- Rising US debt and the fragmentation of the global trade system are pushing investors towards gold.
- Russia is reportedly experiencing financial gains from the gold rally comparable to its frozen sovereign assets.
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