US EditionGold Nears $5,600/oz as Investors Seek Safety, Silver Eyes $120
Gold topped $5,600 per ounce and silver neared $120 driven by safe-haven demand, central-bank buying, and a nearly 11% weaker dollar over the past year, analysts said.
- On Jan 29, spot gold hit a record high just shy of $5,600 an ounce, while Gold futures for February rose over 3% to $5,568.66 per ounce.
- Excess liquidity, safe-haven flows and persistent central-bank buying pushed capital into precious metals as the dollar index declined nearly 11% over the past 12 months.
- Silver has surged more than 60% this year, with spot silver reaching $119.3 and U.S. silver futures for March climbing to $118.73, while smaller markets like silver and platinum see outsized impact from modest speculative inflows.
- Retail customers in Shanghai and Hong Kong have flocked to stores selling gold, and crypto group Tether said it plans to allocate 10–15% of its portfolio to physical gold, though analysts warn production capacity constraints could trigger reversals.
- Marex analyst Edward Meir said `Growing U.S. debt and uncertainty created by signs that the global trade system is splintering into regional blocs as opposed to a U.S.-centric model `, noting speculative capital drives market volatility beyond fundamentals.
21 Articles
21 Articles
Gold, an asset considered refuge in times of uncertainty, remains unstoppable, and this Thursday marks new historical peaks very close to $5,600 an ounce, while silver also reaches new record in the $119. And that, one day after the United States Federal Reserve (Fed) announced that it keeps interest rates in a range between 3.50 % and 3.75 %, and that geopolitical tensions with Iran increased, after U.S. President Donald Trump threatened the Te…
Channel News Asia
Gold nears $5,600/oz as investors seek safety, silver eyes $120
Jan 29 : Spot gold extended its blistering rally on Thursday to hit a record high just shy of $5,600 an ounce, as investors sought safety amid geopolitical and economic uncertainties, while silver came within a whisker of breaching the $120 mark.Spot gold shot up 2.7 per cent to $5,542.29 an ounce by 0149 GMT
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