Gold Hits Record Above $4,800 on Safe-Haven Demand

By News Desk on January 21, 2026

Gold

Gold Surges to Record High Above $4,800 Amid Safe-Haven Demand

Singapore: Gold prices surged to a fresh record above $4,800 per ounce today, supported by heightened safe-haven demand and a weaker US dollar amid escalating geopolitical tensions.

Spot gold rose 1.2 percent to $4,818.03 per ounce, after touching an all-time high of $4,836.24 earlier in the session. US gold futures for February delivery gained 1 percent to $4,813.50 per ounce.

The US dollar hovered near three-week lows against the euro and the Swiss franc, following renewed volatility in global markets after White House statements concerning Greenland sparked a broad sell-off in US assets.

Other precious metals posted mixed performance. Spot silver edged up 0.1 percent to $94.68 per ounce, after reaching a record high of $95.87 in the previous session.

Meanwhile, spot platinum climbed 0.9 percent to $2,485.50 per ounce, having earlier hit a record level of $2,511.80, while palladium rose 0.4 percent to $1,873.18 per ounce.

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