• Gold prices exceeded $5,000 per ounce for the first time.
• The price surge is driven by geopolitical tensions, particularly between the US and NATO.
• Independent analysts predict gold could reach highs of $6,400 in 2026.
• Investors are buying gold as a safe-haven asset amid low interest rates.
• Spot silver also saw significant price increases, surpassing $100 per ounce.

Gold prices surged to a record high, crossing the $5,000 per ounce mark for the first time, fueled by increasing geopolitical tensions. Spot gold reached approximately $5,029.62 per ounce, while U.S. gold futures rose to $5,029.70 per ounce on January 26, 2026. This upswing reflects a significant rise in demand for gold as a safe-haven asset amidst prevailing uncertainty.

The dramatic rise in gold prices has been attributed to various factors, notably ongoing tensions between the United States and NATO over issues concerning Greenland, which have intensified market concerns regarding geopolitical stability. Investors are increasingly looking to gold amid expectations of more financial uncertainty, especially as central banks globally continue to increase their gold reserves.

Market analysts forecast that gold could peak at around $6,400 an ounce later this year, with an average projected price of $5,375. This remarkable price increase follows a historic rally where gold saw a rise of approximately 64% in 2025, underpinned by U.S. monetary policy easing and record inflows into exchange-traded funds. Additionally, demand for spot silver has also surged, reaching around $104.85 per ounce.