Gold price today, Thursday, January 29: Gold rises above $5,600 for the first time

Gold (GC=F) futures opened at $5,449.90 per troy ounce on Thursday, up 2.1% from Wednesday’s closing price of $5,340.20. This was gold’s first open above $5,400 per ounce, and the yellow metal’s price then surged over $5,600 in early trading before pulling back to about $5,500. With this latest surge, gold’s year-to-date gain is now over 26%. The precious metal’s value has benefited from the debasement trade, which is the shift of money out of currencies and government securities and into tangible physi ...