#Gold Price News Today 26-1-2026 - Elliott Wave and technical analysis of the gold market, focusing on support and resistance zones, and possible mid- to long-term scenarios. Video by
MCO Global Equities & Commodities.
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Gold reached a historic milestone on Monday, January 26, 2026, surging past $5,000 per ounce for the first time. Spot gold touched an all-time high of $5,110.50 before stabilizing around $5,096.60. This historic rally represents an 18% increase so far in 2026, following a massive 64% gain in 2025.
Key Market Drivers
-Geopolitical Instability: Heightened tensions between the U.S. and the European Union over President Trump's determination to acquire Greenland have fueled trade war fears. Flashpoints in Ukraine, Venezuela, and the Middle East continue to drive safe-haven demand.
-Trade & Tariff Fears: Markets are reacting to fresh threats of 100% tariffs on Canada and looming U.S. government shutdown concerns.
-Central Bank Buying: Institutional demand remains a structural pillar as central banks diversify reserves away from the U.S. dollar, which sank against the yen today amid intervention risks.
-Monetary Policy: Investors are cautious ahead of this week's Federal Reserve meeting, where interest rates are expected to remain steady, though future rate cut guidance remains a focus.
Analysts remain bullish despite the rapid price surge. Goldman Sachs recently raised its December 2026 target to $5,400, while Societe Generale sees potential for gold to reach $6,000 by the end of the year. However, some technical analysts warn of a potential short-term "selling spree" or profit-taking correction if gold fails to hold above immediate support levels at $5,022.
