Politics

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Gold and silver at new ATHs

ended 12. January 2026

Both gold and silver hit new ATHs overnight, with the former hitting $4,583.34 and the latter $84.43. In part this will be due to ongoing events in Iran, Trump's rhetoric about action - and in part due to anticipated Fed rate cuts and small matter of the US justice department launching a criminal prove into US Federal Reserve chairman, Jerome Powell. Could this latest round of latest geopolitical uncertainty bring $5000 gold and $100 silver sooner than previously expected? Any thoughts, and tips for investors, send them across ASAP. 

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Editor
Anita Wright
Chartered Financial Planner at Ribble Wealth Management
Gold and silver printing fresh all-time highs overnight is not a “one-factor” story. Yes, geopolitics is adding rocket fuel, but the bigger issue is confidence: confidence in central banks, in fiscal discipline, and in the independence of monetary policy. Add in the quieter, structural driver: central banks continuing to diversify reserves. Recent reporting suggests the Reserve Bank of India has reduced US Treasury holdings while adding to gold reserves, and the World Gold Council data continues to show central bank buying momentum. It is less about short-term headlines, more about the long-term erosion of purchasing power and trust in fiat currency frameworks. Could we see $5,000 gold and $100 silver sooner than expected? It is possible, but it will not be a straight line. When markets break to new highs, momentum often means they can overshoot, but they can also snap back hard on profit-taking and positioning.
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David Belle
Founder and Trader at Fink Money
The more anti-BRIC sentiment there is, the higher gold and silver will go. It really is that simple. The central banks of these nations will actively be looking at holding gold more rather than dollars since this gives them more non-USD liquidity. This does not mean they will be buying fewer USD denominated assets, however.

The Chinese central bank has been a huge buyer of gold since Trump's election win in 2024, and they are likely watching geopolitical events unfold with an extreme sense of fear since the US is simply railroading them at every juncture.

Venezuela, Trump's threats of military action in Iran and now criminal action against the chair of the US Federal Reserve could see $5000 sooner rather than later.