Gold tops $5,300 as weak dollar 'supercharges' rally
Yahoo Finance·2026-01-28 15:50

Group 1 - Gold futures surged above $5,300 per ounce, driven by a weak dollar and increasing investor interest in hard assets, with year-to-date gains reaching 20% [1] - The decline of the US dollar, which recently hit its lowest level in nearly four years, is contributing to the rise in gold prices, as investors seek to protect their purchasing power [2][3] - Geopolitical tensions, particularly regarding Iran, are also influencing the demand for gold, as central banks reduce their exposure to government bonds [4] Group 2 - Silver prices increased to $112 per ounce, marking a 48% rise since the beginning of the year, fueled by strong demand from China and export restrictions [5] - Platinum prices are near record highs, having gained 29%, while copper prices have stabilized after exceeding $13,000 for the first time in London [6]

Gold tops $5,300 as weak dollar 'supercharges' rally - Reportify