Gold Crosses $5,000

2026-01-26 00:25 By Judith Sib-at 1 min. read

Gold prices rose more than 1% to $5,080 per ounce on Monday, extending its record-breaking rally as safe-haven demand strengthened amid trade and geopolitical uncertainties.

Canadian Prime Minister Mark Carney said on Sunday that Ottawa has no plans to pursue a free trade deal with China, noting the recent agreement only reduces tariffs on select sectors.

Carney's remarks came a day after President Trump threatened a 100% tariff on Canadian goods if it forges a trade deal with Beijing.

Frictions between the US and Europe over Greenland, as well as tensions in the Middle East, also kept investors on edge.

Meanwhile, risks of a US government shutdown surfaced as Senate Democrats vowed to block a major funding bill following recent Minneapolis shooting.

Traders are now awaiting the Federal Reserve’s meeting this week, where the central bank is widely expected to hold rates steady.

After a strong finish in 2025, gold has already gained around 17% so far this year.



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