Gold prices surged further on Monday, pushing to fresh record levels as investors sought refuge from rising global trade and geopolitical uncertainty.
The precious metal rose to $4,666.15 per troy ounce on January 19, 2026, up about 1.55% from the previous day, according to trading on a contract for difference tracking the benchmark market. Over the past month, gold has gained nearly 5%, and is up more than 72% compared with a year ago, reflecting sustained demand for safe‑haven assets amid market volatility.
The rally accelerated after U.S. President Donald Trump announced a new round of tariffs on several European nations, reigniting trade tensions and spurring a shift into safe‑haven assets such as gold and silver.
Trump said a 10% tariff on goods from eight European countries will take effect from February 1, with the rate possibly rising to 25% in June unless a political agreement is reached related to Greenland. The announcement has prompted concern among European leaders, who are preparing potential countermeasures.
Gold’s rise on Monday saw prices top $4,670 per ounce, with some trading near $4,690, a record high, earlier in the session, as risk aversion gripped markets. Silver also climbed to fresh highs, reinforcing the broader flight to safe‑haven commodities.
The extended run in gold comes after strong performances late last year, as investors increasingly turned away from riskier assets toward traditional hedges amid political uncertainty in regions including the Middle East and rising fears of a broader trade dispute between the United States and its allies.
Analysts say that while gold’s safe‑haven status continues to support prices, broader market forces, including trade policy risks, currency volatility, and shifts in global monetary conditions, will remain key drivers of the metal’s trajectory in the months ahead.
