#Gold Price News Today 29-1-2026 - Elliott Wave and technical analysis of the gold market, focusing on support and resistance zones. Video by
MCO Global Equities & Commodities.
Buy, sell, and store over 400 digital assets at one of Europe’s leading exchanges. Crypto trading and staking made simple!
Learn more >>
Gold prices surged to a historic all-time high on January 29, 2026, briefly touching an intraday record of $5,626.80 per ounce. As of approximately 9:05 AM ET, spot gold was trading near $5,545.20, marking a gain of nearly 5% from the previous day's close. This rapid ascent represents a 28% increase in January alone, fueled by a "perfect storm" of geopolitical tensions in the Middle East, safe-haven demand, and a weakening U.S. dollar.
Key Market Drivers
-Geopolitical Instability: Escalating US-Iran tensions and the ongoing crisis in Ukraine have driven investors toward safe-haven assets.
-Monetary Policy: The Federal Reserve recently opted to leave interest rates unchanged, leading to market expectations of future cuts and further supporting the gold rally.
-Trade Uncertainty: New tariff threats from the Trump administration have increased global economic volatility.
-Regional Demand: In Japan, retail gold prices exceeded 30,000 yen per gram for the first time, while in India, 24K gold reached a record ₹175,630 per 10 grams.
