Silver Rises Over 120% YTD 
Published: 01-29-2026, 10:30 am | Updated: 01-29-2026, 10:58 am
Daily News Nuggets | Today’s top stories for gold and silver investors
January 29th, 2026
Gold Rockets Past $5,500 as Investors Pile into Safety
Gold hit a fresh record Thursday, briefly touching $5,591 per ounce before settling around $5,542. That’s up more than 10% this week alone.
What’s fueling the surge? Analysts point to mounting U.S. debt and signs the global trade system is fracturing into regional blocs rather than the traditional U.S.-led model. Add in a weaker dollar, steady central bank buying, and rising tensions with Iran and much of Europe, and gold looks less like a crisis hedge and more like essential portfolio insurance.
Silver wasn’t far behind, climbing toward the $120 mark.
The rally has been parabolic, and a pullback could be coming. But with the Fed holding rates steady Wednesday and inflation still running hot, analysts expect the fundamentals to remain supportive throughout 2026.
The Financial System Isn’t Safer — And You Know It As risks mount, see why gold and silver are projected to keep shining in 2026 and beyond.
Global Gold Demand Hits All-Time High in 2025
On Thursday, the World Gold Council reported that global gold demand rose by 1% in 2025 to 5,002 metric tons, the highest number on record.
Investment drove the surge. Investment demand surged to 2,175.3 tonnes compared to 1,185.4 tonnes in 2024 — an 84% jump — as investors piled into bars, coins, and ETFs.
Meanwhile, jewellery demand dipped by 18% year-on-year against a 67% price increase. However, total spending on gold jewelry still rose to a record $172 billion. Central banks kept buying, led by Poland with 102 tonnes.
The biggest question this year will be whether investment demand is going to be strong enough to maintain the strength of the gold market, analysts said.
Not every supposed safe haven is performing as advertised.
Bitcoin’s “Digital Gold” Narrative Takes a Hit
Gold has surged past $5,000. Stocks keep booming. Yet Bitcoin is sitting out the action. The original cryptocurrency is hovering around $87,000 — down 25% since October — while precious metals hit record highs.
Investors have pulled more than $1.3 billion from Bitcoin-linked funds over the last week, and longtime believers are pivoting to equities and gold. The shift exposes a fundamental problem: Bitcoin was marketed as “digital gold,” but it’s behaving like a risk asset.
During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%. Analysts say the difference comes down to time horizon. Gold thrives during immediate shocks — tariff threats, policy uncertainty, war risk. Bitcoin, by contrast, is better suited for long-term concerns like fiat debasement that unfold over years, not weeks.
For now, physical metals are winning the safe-haven trade. And precious metals aren’t the only ones surging.
Copper Surges to Record on China Trading Frenzy
Meanwhile, copper soared as much as 7.9% on the London Metal Exchange to a record high of $14,125 a ton Thursday, marking its biggest daily move since 2009.
This time, the rally is being driven by speculation, not fundamentals. Investors are piling into base metals on the Shanghai Futures Exchange on expectations for stronger US growth and more spending on data centers, robotics and power infrastructure.
January was already the busiest month on record for the SHFE’s six base metals, and other industrial metals like aluminum and zinc also rallied.
A weaker dollar is adding fuel, making commodities more attractive globally. But there are plenty of voices warning that the spectacular gains in metals have run ahead of real-world demand.
Behind all the metals volatility: the Federal Reserve.
Fed Holds Rates Steady as Powell Defends Independence
The Federal Reserve held its key interest rate steady in a range between 3.5% and 3.75% Wednesday, pausing after three consecutive cuts last year.
“If you look at the incoming data since the last meeting, [there is] clear improvement in the outlook for growth,” Chair Jerome Powell said. The labor market is showing signs of stabilization, though core inflation likely hit 3% in December — still well above the Fed’s 2% target.
Two officials dissented from Wednesday’s decision, with Governors Stephen Miran and Christopher Waller preferring another quarter-point reduction.
Powell also defended central bank independence amid mounting pressure from the White House. Markets aren’t pricing in another cut until June.
