#Gold Price News Today 17-1-2026 - Elliott Wave and technical analysis of Gold, focusing on market structure, key support and resistance zones. Video by MCO Global Equities & Commodities.
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Gold prices are trading near record highs on January 17, 2026, with international spot gold holding firm around $4,594–$4,602 per ounce. While global markets saw minor cooling due to short-term profit-taking after hitting a mid-week peak of $4,642, the long-term outlook remains highly bullish with major institutions like Goldman Sachs and JPMorgan predicting prices could reach or exceed $5,000 later this year.
Global Market Highlights
-Price Levels: Spot gold closed the week's trading session near $4,602/oz. U.S. gold futures for February delivery settled slightly lower at $4,601.10.
-Key Drivers: Prices are supported by a "perfect storm" of geopolitical and domestic factors, including:
---Geopolitical Instability: Escalating tensions involving Iran and the U.S. capture of Venezuelan President Nicolas Maduro have fueled intense safe-haven demand.
---Federal Reserve Uncertainty: A criminal investigation into Fed Chair Jerome Powell regarding the central bank's independence has shaken investor confidence in U.S. assets.
---Trade Policy: The introduction of new tariffs by the Trump administration has increased global economic uncertainty.
-Central Bank Activity: Continued aggressive buying for reserve diversification remains a structural floor for prices.
