Gold Nears $5,600, Silver Hits $120: Why Precious Metals Are Soaring
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News18•29-01-2026, 09:55
Gold Nears $5,600, Silver Hits $120: Why Precious Metals Are Soaring
- •Gold reached approximately $5,600 per ounce and silver traded near $120 per ounce on January 29, showing strong gains.
- •Gold has risen over 10% this week and more than 27% this year, following a 64% jump in 2025.
- •The surge is driven by increased demand for safe-haven assets due to geopolitical tensions and policy uncertainty.
- •A weaker US dollar and continuous buying by central banks and investors, including Tether, are also fueling the rally.
- •Silver's rise is further supported by low supply, strong industrial demand, and high retail purchasing in Asia.
Why It Matters: Gold and silver prices are surging due to geopolitical tensions, policy uncertainty, a weak dollar, and strong demand.
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