Topline
Gold prices reached another historic high Tuesday, pushing past the $5,150 mark as silver gains cooled off amid a weakening U.S. dollar, the decline of which President Donald Trump shrugged off during a trip to Iowa.
A display of one kilogram gold bars at Conclude Zrt bullion dealer arranged in Budapest, Hungary, on Thursday, Jan. 22, 2026.
Akos Stiller/Bloomberg
Key Facts
Gold futures reached $5,163 as of 6:45 p.m. EST, while the metal’s spot price hit the $5,170 mark.
The surge signifies an all-time high for gold futures, which are up 86% since last January.
Silver prices, which climbed alongside gold earlier in the week, cooled off to around the $111 mark after nearly reaching $116 on Monday.
The increase in prices for the metals come amid a weakening dollar and uncertainty around the Trump administration’s economic and tariff-heavy trade policies.
When asked if he is comfortable with the current value of the dollar, Trump told reporters, “No, I think it’s great,” adding, “Look at the business we’re doing.”
The U.S. dollar index reached $95.82 on Tuesday, its lowest point since 2022.
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Big Number
Nearly 180%. That is how much gold futures have rocketed since 2022. Meanwhile, silver futures have risen 336% in that same time period.
Key Background
As gold has climbed to historic highs, silver prices reached above $100 for the first time ever last week. The metals’ surge in price has been informed by increased demand for safe-haven assets as the dollar weakens and U.S.-European relations have been tense amid Trump’s attempt to take control of Greenland, potentially putting the future of NATO in jeopardy. The U.S. capture of Venezuelan President Nicolas Maduro, potential U.S. intervention in Iran’s protests and China’s export restrictions on silver have also contributed to the rise in metal prices seen recently. Goldman Sachs raised its gold forecast from $4,900 to a projected $5,400 by the end of this year,
Further Reading
Gold Surges Past Record $5,100–Silver Rises More Than 8% (Forbes)
Silver Breaks Milestone $100 For The First Time As Gold Nears $5,000 (Forbes)