Gold Exceeds $5,000 Per Ounce for First Time in History
Gold Price Surpasses $5,000 Per Ounce for First Time in History
Amid escalating geopolitical and political uncertainty, global precious metals markets are reaching unprecedented levels. On January 26, 2026, the spot price of gold exceeded the psychologically significant threshold of $5,000 per troy ounce for the first time, reaching an intraday peak of $5,093.
Price Performance
Since the start of 2026, the price of gold has increased by 17%. This rise continues the trend from 2025, during which the metal appreciated by 64% for the full year. At the close of the trading session, the price settled near $5,063 per ounce.
Turkish Domestic Market Data
- Gold per gram: Reached 7,105 Turkish Lira.
- Current market level: Approximately 7,064 Lira per gram.
- Grand Bazaar (Istanbul) quotations: 7,234 Lira per gram.
- Quarter gold coin: Trading at 11,803 Lira.
Record Levels for Other Precious Metals
The rally is not limited to gold. Prices for silver, platinum, and palladium are also at all-time highs:
- Silver: $109.45 per ounce.
- Platinum: $2,857, with a session gain of +3.26%.
- Palladium: $2,074, with a gain of +3.2%.
Fundamental Drivers of the Rally
The primary driver of the current market condition is a flight to safety and defensive assets. Key contributing factors include:
- Intensification of geopolitical conflicts on a global scale.
- Risk of a U.S. federal government shutdown.
- Statements regarding potential 100% tariffs on Canadian goods.
- Investor fears concerning the onset of a new large-scale global trade war.
Analyst Forecasts
- If the price consolidates above $5,000, the next target could be $5,500 per ounce.
- On the Turkish domestic market, the price per gram may exceed 8,000 Lira in 2026.
- The long-term outlook suggests a potential target of 10,000 Lira and above.
Risk Warnings
Experts note that the current week is subject to heightened volatility due to potential profit-taking by investors following the significant rally. The following key support levels have been identified:
- For gold: $4,850 per ounce.
- For silver: $98.5 per ounce.
Breaking the $5,000 per ounce barrier marks a new phase for the precious metals market. Current quotations reflect a deep reassessment of risks by global investors. A high degree of uncertainty should be factored into all investment decisions at this time.
