Daijiworld Media Network - New Delhi
New Delhi, Jan 26: Gold prices have surged past the $5,000-an-ounce milestone, setting a fresh all-time high as investors flock to safe-haven assets amid rising global uncertainty.
During the latest trading session, gold touched $5,026 an ounce, while silver leapt to an unprecedented $102 an ounce. The rally underscores the extraordinary momentum in precious metals, considering gold was trading just above $2,000 an ounce in January 2024.
Market experts say the precious metals complex remains firmly entrenched in a long-term bull market as 2026 progresses. Despite periodic pullbacks and elevated price levels, the broader trend shows no signs of fatigue.
Analysts describe the current phase as one of consolidation rather than reversal, with strong fundamentals continuing to outweigh short-term volatility. Safe-haven buying, sustained purchases by central banks and expectations of supportive global monetary policies have combined to provide a solid floor for prices.
“Downside risks remain limited, as earlier resistance levels have now turned into strong demand zones, reinforcing the strength of the overall uptrend,” said Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealthtech platform.
Silver has emerged as the clear outperformer in this cycle. COMEX silver prices have decisively crossed the $100 level, reaching lifetime highs and highlighting the metal’s dual appeal as both a monetary hedge and a key industrial input.
Market watchers note that silver’s stronger performance relative to gold reflects the convergence of robust investment inflows and rising industrial demand. They emphasise that the ongoing rally is fundamentally driven rather than the result of speculative excess.
Looking ahead through the rest of the first quarter of 2026 and beyond, analysts remain firmly bullish on precious metals. Tight supply conditions, combined with dual demand drivers and ample global liquidity, are expected to support further gains over the medium to long term.
Any short-term corrections, triggered by overbought conditions or temporary strength in the US dollar, are likely to be shallow and could present fresh buying opportunities, analysts said. While silver offers strong relative upside potential, gold continues to stand out as the most dependable shield against macroeconomic and geopolitical risks.
Both metals continue to draw support from sustained central-bank buying, currency fluctuations and ongoing geopolitical tensions, reinforcing their role as cornerstone assets in uncertain times.