Gold price hits record of $4,700 per ounce after geopolitical tensions
Internet
Published at: 20/01/2026 02:21 PM
The price of gold surpassed $4,700 per ounce and registered an unprecedented high in a context of growing global tensions. Silver also surpassed $95 for the first time.
Spot gold rose 1.5% to 4,737.18 dollars per ounce, after reaching 4,750.49 dollars during the day. U.S. contracts with delivery in February closed at $4,742.70, an increase of 3.2%.
“Gold has entered unknown territory as investors protect themselves against growing political risk,” said City Index analyst Fawad Razaqzada, while noting that the devaluation of the dollar added pressure to the market and reinforced demand for metals, in a context of lower confidence in U.S. assets.
The rise also coincided with new tariff threats from the United States against the European Union for control of Greenland, intensifying diplomatic tension. The fall of the dollar, about to record its biggest decline in more than a month, made gold more accessible to international buyers.
Mazo News Team