#Gold Price News Today 24-1-2026 - 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 reached historic all-time highs today, January 24, 2026, with international spot prices hovering near the $5,000 per ounce psychological barrier. The rally is primarily driven by safe-haven demand following the announcement of U.S. tariffs on Greenland, geopolitical tensions in Venezuela and Iran, and domestic uncertainty surrounding the Federal Reserve.
Key Market Drivers
--Greenland Crisis: Tensions regarding U.S. tariff intentions on Greenland have fueled a "risk-off" sentiment, pushing investors toward precious metals.
--Geopolitical Instability: The capture of the Venezuelan President and ongoing unrest in Iran have increased global economic uncertainty.
--Federal Reserve Uncertainty: Investigations into Fed leadership and weak employment data have led markets to price in more aggressive rate cuts, which typically boosts non-yielding assets like gold.
--Central Bank Buying: Major institutions like Goldman Sachs have raised their 2026-end forecasts to $5,400 per ounce, citing robust diversification into gold by emerging market central banks.
