Gold Breaks New Records, Silver Nears $120

By News Desk on January 29, 2026

Gold Extends Record Rally, Nears $5,600 an Ounce

Singapore: Spot gold extended its record-breaking rally today, edging closer to the $5,600-per-ounce level, as investors sought safe-haven assets amid ongoing geopolitical and economic uncertainties. Silver prices also climbed, coming within close range of the $120 mark.

Spot gold rose 2.1 percent to $5,511.79 an ounce, after touching a fresh all-time high of $5,591.61 earlier in the session.

Gold prices surged past the $5,000 level for the first time on Monday and have gained more than 10 percent so far this week, supported by strong safe-haven demand and a weaker US dollar.

Spot silver increased 1.3 percent to $118.06 an ounce, after reaching a record high of $119.34 earlier in the day.

Meanwhile, spot platinum rose 0.5 percent to $2,710.20 an ounce, following a record peak of $2,918.80 on Monday, while palladium fell 1.3 percent to $2,048.14 an ounce.

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