#Gold Price News Today 23-1-2026 - 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 have surged to historic record highs today, January 23, 2026, with spot gold trading near $4,930–$4,988 per ounce. The market is driven by intense safe-haven demand fueled by geopolitical turmoil, including the recent U.S. operation in Venezuela, and domestic uncertainty surrounding investigations into Federal Reserve leadership.
Key Market Drivers
--New Record Highs: Spot gold hit an intraday peak of $4,988.17 per ounce earlier today before experiencing slight profit-taking that brought prices toward the $4,930–$4,950 range.
--Driving Factors: Key catalysts include fears of a U.S. government shutdown, global political instability in France and Japan, and a strategic shift by central banks (notably India and China) away from U.S. dollar assets.
--Bullish Outlook: Major financial institutions have raised their targets, with Goldman Sachs projecting $5,400 by year-end and Bank of America forecasting gold could reach $6,000 by Spring 2026.
