Gold Prices Hit Record High of $4900 Per Ounce

TLDR

• Gold reached $4,900 per ounce on January 22, 2026.
• Central banks to purchase 60 tonnes of gold in 2026.
• Gold's price increased 65% in 2025 and 11-12% in 2026.

Gold prices have reached a new all-time high of approximately $4,900 per ounce, as confirmed on January 22, 2026. This record comes amid geopolitical tensions, a weakening U.S. dollar, and increased central bank diversification, particularly from emerging markets.

The price surge has been driven by safe-haven demand, aligning with the London Bullion Market Association's verification of the spot price at $4,900.74. Futures briefly touched $4,920 during the trading session.

Central Bank Purchases and Market Response

Central banks are expected to purchase around 60 tonnes of gold in 2026, influencing the market dynamics significantly. This has supported the current price rise, marking a 1.4% increase in a single session.

Goldman Sachs has adjusted its year-end 2026 gold forecast from $4,900 to $5,400. The investment bank cites non-liquidating demand sources, including private sector hedging of policy risks and emerging-market central bank purchases.

Comparative Performance and Market Trends

Gold's performance has been remarkable, recording an increase of approximately 65% in 2025 and 11-12% year-to-date in 2026. This performance has outpaced equities and stimulated gains in related precious metals such as silver and platinum, along with mining equities.

The sustained price level above $4,500 may lead to a crowding-out effect on other investments. However, no direct correlation with cryptocurrency assets has been identified. For those interested in understanding the impact of financial decisions, detailed insights are accessible via the Phemex platform news section.

Investment Strategies Amid Uncertainty

Goldman's analysis positions gold as a macro hedge during uncertain times. This strategy aligns with the current economic landscape marked by geopolitical instability and monetary shifts.

While the gold market thrives, cryptocurrency-related impacts remain unreported. No credible links to blockchain ecosystems or digital assets have surfaced amidst this gold price surge. Traders and investors exploring versatile options can consider opportunities via an in-depth exploration of cryptocurrency trading markets.