economy
January 14, 2026
Gold, silver are smashing records to start 2026 after last year's big run. Why it's happening again
The nonstop barrage of news out of Washington in recent weeks — from Venezuela to Iran to Greenland — has added to conviction in the two precious metals.
TL;DR
- Gold and silver have reached record prices in early 2026, with gold topping $4,600/oz and silver breaching $90/oz.
- Precious metals have seen significant rallies of over 6% (gold) and 22% (silver) since New Year's.
- Underlying demand factors include rising central bank purchases, a weaker U.S. dollar, and tight supply/demand dynamics.
- Recent geopolitical events (Venezuela, Iran, Greenland) and attacks on Federal Reserve independence are driving investors to safe-haven assets.
- Strategists predict further gains, with some forecasting gold to reach $5,000/oz due to macroeconomic and geopolitical worries.
- Gold is seen as a preferred hedge asset over oil in case of escalation of tensions with Iran.
- Increased U.S. interventionism could lead other countries to stockpile their own commodity reserves.
- Heightened geopolitical risks and uncertainty regarding Fed independence support a bullish outlook for gold and silver.
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