Gold Extends Rally

2026-01-27 00:37 By Judith Sib-at 1 min. read

Gold prices climbed more than 1% to around $5,080 per ounce on Tuesday, having hit an all-time peak above $5,110 in the previous session, driven by strong haven demand amid rising trade and geopolitical tensions.

On Monday, President Trump threatened to raise tariffs on autos, lumber, and pharmaceutical drugs from South Korea, with duties on other goods increasing from 15% to 25%, citing a lack of progress on a trade deal announced last year.

Investor attention now turns to the US Federal Reserve’s two-day policy meeting, which begins today.

While interest rates are expected to remain unchanged, markets will closely scrutinize Chair Jerome Powell’s remarks, particularly amid mounting pressure from the White House to lower rates.

Bullion has risen almost 17% so far this year, with the rally further supported by the so-called debasement trade as investors retreat from currencies and bonds amid fiscal concerns, as well as robust central bank purchases and sustained ETF inflows.



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