Precious metal Gold price nears 5000 dollar mark - silver 100 dollars
Precious metals remain in demand among investors: gold and silver were more expensive than ever before in early trading on Friday.
23.01.2026, 07:59
SDA
The price of a troy ounce of gold (approx. 31.1 grams) climbed by up to 0.6 percent to just over 4967 US dollars. This means that the 5000 dollar mark is not far away. Silver is only a few cents below the 100 dollar mark. The price of a troy ounce rose by up to 3.3 percent to 99.38 dollars in the morning.
The price of gold rose by almost 15 percent in the first 16 trading days of the year, after the precious metal had already increased in price by 65 percent last year. This was the highest annual increase since 1979. Price drivers last year included many conflicts around the world.
Political tensions were also responsible for the price gains in 2026. Experts attributed the gains in the first trading days of the year primarily to the situation in Iran and the latest tariff threats from US President Donald Trump against some European countries in connection with Greenland. Trump has since withdrawn these. However, this only gave the precious metals market a brief respite. Prices rose again significantly over the course of the day on Thursday.
Silver was recently in greater demand than gold. The price of silver rose by almost 150% in 2025 and has risen by a further 38% this year.
Precious metals - especially gold - are seen by many investors as safe havens in times of political uncertainty. Silver is also an important industrial metal that is needed for numerous applications in the fields of AI, robotics and energy.
