AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

1/6/2026: Gold, silver surge on safety

Source: Bill Musgrave, American Gold Exchange

Austin — Extending yesterday's 2.7% rally, New York spot gold added another 1% to close above $4,482 on safe-haven inflows and expectations of looser monetary policy in 2026. Silver surged another 5.7% to finish at $80.53, rocketing more than 13% in two sessions.

Geopolitical unease following President Trump's armed incursion into Venezuela, amplified by suggestions from key administration officials that Greenland might be next, continues to drive safety-minded investors into precious metals.

Meanwhile, slowing US growth, weakening employment, and contained inflation are raising speculation that the Fed will be forced to cut interest rates more aggressively this year than the Fed's so-called dot-plot projects. Falling interest rates are bullish for gold because they pressure the dollar and reduce bond yields, making gold less expensive in other currencies and reducing the opportunity cost for holding it instead of bonds.ds

The Fed has penciled in one more quarter-point reduction in 2026, fed funds futures traders anticipate at least 50 basis points in cuts, and perhaps more if the labor market continues to deteriorate. This Friday's release of the December nonfarm payrolls data should help to clarify the short-term outlook.

Gold's gains came despite rising risk appetite among stock traders, as the Dow rallied another 1% to finish above 49,000 for the first time. Expectations of lower interest rates and optimism about AI were the primary drivers.

Platinum and palladium rose 7.4% and 4%, respectively.

At the New York spot close: gold gained $45.30 to $4,482.30; silver surged $4.37 to $80.53; platinum picked up $164.50 to $2,434; and palladium rose $69.90 to $1,812.10 an ounce.