Gold has climbed back above the US$5,000 ($7,122) an ounce mark, following falling below US$4,660 at the beginning of this month.
The recent price jump builds on a more than 6% surge in the previous session – the biggest daily gain since 2008, as reported by Trading Economics.
At the end of January 2026, gold’s price rose to US$5,090, as previously reported. Days later, both gold and silver had hit another price record, reaching US$5,530 and US$119 an ounce, respectively. At the time of writing, silver’s price sat at US$90.13 an ounce.
Over the past month, the yellow metal’s price has risen 13.47% and is up 75.86% compared to the same time last year. Meanwhile, silver has risen 17.44% in the past month and is up 178.32% compared to the same time last year.
According to ABC Bullion, gold has delivered a 27% increase year-to-date return despite only being in the first month of 2026. Meanwhile, silver has achieved a staggering 65% return year-to-date, far outpacing major commodities and equities.
The gold-to-silver ratio has fallen sharply from last year’s historically elevated levels, retracing toward a 14-year low of 54:1, highlighting silver’s “significant” relative outperformance, as reported by ABC Bullion.
Trading Economics reports that January’s rally in silver and other metals was fuelled by geopolitical and economic uncertainty, concerns over currency debasement, and worries about the Federal Reserve’s independence.
Write to Aaliyah Rogan at Mining.com.au
Images: ABC Bullion
