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Monday, January 26, 2026
Gold prices pass $5,000 for first time amid fears of global instability
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Gold surges to a record high above $5,000 an ounce, extending a historic rally as investors piled into the safe-haven asset amid rising geopolitical uncertainties.
The metal soared 64% 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 risen more than 17% 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,” says Kyle Rodda, a senior market analyst at Capital.com.
US President Donald Trump abruptly stepped back on Wednesday from threats to impose tariffs on European allies as leverage to seize Greenland.
Over the weekend, he said he would impose a 100% tariff on Canada if it followed through on a trade deal with China.
He has also threatened to hit French wines and champagnes with 200% tariffs in an apparent effort to pressure French President Emmanuel Macron into joining his Board of Peace initiative.
“This Trump administration has caused a permanent rupture in the way things are done, and so now everyone’s kind of running to gold as the only alternative,” Rodda adds.
The Times of Israel Community.