Gold Price Surge in 2026: Why Global Investors Are Paying Attention

Global Spike in Gold Price Searches

As of January 29, 2026, search interest for gold prices has surged worldwide. India leads with over 3 million searches, followed by the United States with 250,000+ searches, and Canada with 29,000+ searches.

Search Volume by Country

🇮🇳 India: 3M+ searches
🇺🇸 United States: 250K+ searches
🇨🇦 Canada: 29K+ searches
🇵🇰 Pakistan: 22K+ searches
🇧🇷 Brazil: 13K+ searches
🇮🇩 Indonesia: 11K+ searches
🇬🇧 United Kingdom: 10K+ searches
🇸🇦 Saudi Arabia: 7K+ searches
🇻🇳 Vietnam: 6K+ searches
🇦🇺 Australia: 5K+ searches
🇯🇵 Japan: 5K+ searches
🇪🇬 Egypt: 4K+ searches
🇫🇷 France: 3K+ searches
🇪🇸 Spain: 3K+ searches
🇩🇪 Germany: 2K+ searches
🇹🇷 Turkey: 2K+ searches
🇹🇼 Taiwan: 1K+ searches
🇮🇹 Italy: 1K+ searches
🇰🇷 South Korea: 200+ searches
🇲🇽 Mexico: 200+ searches

Gold Price Reaches Historic Highs

On January 29, 2026, gold prices surged past $5,300 per ounce, setting a new all-time record. This represents an increase of more than 2% from the previous day and nearly double the price from just a year ago.

The gold price rally has been ongoing since mid-January. On January 12, gold was trading at $4,568 per ounce, broke through $5,100 on January 26, and exceeded $5,300 on January 29. On Thursday, prices briefly topped $5,500.

Key Factors Behind the Gold Price Surge

1. Weakening Dollar and Safe-Haven Demand

The US dollar has fallen to its lowest level in four years, driving increased demand for gold. President Trump's comments suggesting tolerance for a weaker dollar have prompted investors to shift funds into safe-haven assets like gold.

2. Geopolitical Uncertainty

Rising military tensions with Iran, issues surrounding Greenland, the Venezuela crisis, and other global geopolitical risks have highlighted gold's value as a safe-haven asset. The European Union's designation of Iran's Revolutionary Guards as a terrorist organization and the US military buildup in the Middle East have heightened tensions.

3. Sustained Central Bank Gold Purchases

Central banks worldwide are expanding their gold reserves. According to Goldman Sachs, central banks are currently purchasing approximately 60 tons of gold per month on average, significantly exceeding the pre-2022 average of 17 tons. Emerging market central banks, particularly in China and India, are actively buying gold to reduce dollar dependence and diversify their foreign exchange reserves.

International Monetary Fund (IMF) data shows that US dollar assets now account for less than 50% of global central bank holdings, while gold's share has risen to approximately 28%. Gold's value now slightly exceeds the value of US Treasuries held by central banks.

4. Continued ETF Inflows

Money continues to flow into gold ETFs (Exchange-Traded Funds). In 2025 alone, approximately $77 billion flowed into gold ETFs, with holdings increasing by more than 700 tons. Western gold ETF holdings have grown by about 500 tons since early 2025.

5. Federal Reserve Policy Uncertainty

While the Federal Reserve has maintained its policy rate at 3.50%-3.75%, expectations of potential future rate cuts are supporting gold demand. Additionally, the launch of a criminal investigation into Fed Chair Jerome Powell has raised concerns about central bank independence, strengthening safe-haven preferences.

Silver Prices Also Surge

Along with gold, silver prices have also surged. As of January 29, silver is trading around $113 per ounce, having briefly exceeded $117. This represents an increase of more than 250% compared to a year ago.

The main drivers of the silver price surge include strong demand from renewable energy and electronics industries, supply shortages, and safe-haven preferences similar to gold. Industrial demand for silver, which is essential for solar panels and electronics manufacturing, continues to grow.

2026 Gold Price Forecasts

Major investment banks' gold price forecasts are as follows:

Goldman Sachs: $5,400 per ounce by December 2026 (revised up from $4,900)
JPMorgan: Average of $5,055 in Q4 2026, $5,400 by end of 2027
Deutsche Bank: $6,000 by end of 2026
Société Générale: $6,000 by end of 2026
UBP: $5,200 by end of 2026

The World Gold Council forecasts that gold prices could rise an additional 15%-30% from current levels. However, they also present a scenario where prices could correct by 5%-20% if the US economy recovers more strongly than expected and interest rates rise.

Why Investors Are Focusing on Gold

Inflation Hedge: Gold is traditionally viewed as a protection against inflation and currency devaluation.
Portfolio Diversification: Gold shows low correlation with stocks and bonds, making it useful for portfolio diversification.
Economic Uncertainty Protection: During periods of high economic and political uncertainty, gold serves as a safe haven.
Weak Dollar Beneficiary: When the dollar weakens, gold becomes more attractive to international investors.
Central Bank Demand: Sustained gold purchases by major central banks are supporting price increases.

Growing Interest in Gold Investment in South Korea

Interest in gold prices is also increasing in South Korea, with over 200 related searches recorded. As global economic uncertainty and geopolitical risks persist, Korean investors appear to be raising their interest in gold as a safe-haven asset.

Expert Advice

Experts recommend holding gold as part of a portfolio, but not exceeding 10%-15% of total assets. The overall precious metals allocation should ideally not exceed 20%.

While gold can be volatile in the short term, it has historically served as a store of value during periods of economic uncertainty. However, it's worth noting that from 1971 to 2024, traditional stocks generated an average annual return of 10.7%, while gold returned 7.9%.

Conclusion

The gold price surge in 2026 is the result of a combination of factors: dollar weakness, geopolitical uncertainty, sustained central bank purchases, and safe-haven preferences. Global investors continue to choose gold as a safe haven in an uncertain economic environment, driving ongoing demand increases.

Most experts forecast that gold prices will continue to rise in 2026, with expectations that prices will trade between $5,000 and $6,000 per ounce by year-end. However, investors need to fully understand gold's volatility and risks, and approach investment carefully from a portfolio diversification perspective.

References

Trading Economics - Gold Price: https://tradingeconomics.com/commodity/gold
CNBC - Gold surges past $5,100: https://www.cnbc.com/2026/01/26/gold-record-surges-past-new-5000-record.html
J.P. Morgan Research - Gold Price Predictions: https://www.jpmorgan.com/insights/global-research/commodities/gold-prices
World Gold Council - Gold Outlook 2026: https://www.gold.org/goldhub/research/gold-outlook-2026
The Washington Post - Why gold and silver prices are surging: https://www.washingtonpost.com/business/2026/01/26/gold-silver-record-rally/
Fortune - Current price of gold: https://fortune.com/article/current-price-of-gold-01-27-2026/

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