AGE Daily Gold Update

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

1/13/2026: Gold eases on profit-taking

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold eased 0.3% to close under $4,590 after benign CPI data was offset by a stronger dollar, prompting traders to take profits from record-high prices. Silver continued to surge, adding another 1.5% to finish at a new record of $85.88 an ounce.

The consumer price index rose 0.3% in December for a 12-month inflation rate of 2.7%, mirroring November's. So-called core inflation, less volatile food and energy costs, rose 0.2% for a 12-month reading of 2.6%.

But the data was not all positive. Food prices rose by the most in more than three years and rents were also exceptionally high, reinforcing the affordability crisis affecting many Americans.

Initially, gold surged to a new intraday record above $4,634 after the modest inflation data reinforced expectations that the Fed will reduce interest rates later this year. Falling rates tend to weaken the dollar, making gold cheaper overseas, and they also lower bond yields, thereby reducing the opportunity cost for holding gold instead of bonds for safety.

But traders took profits from bullion's all-time high as the dollar strengthened behind a falling yen following news that Japanese Prime Minister Sanae Takaichi may call an early general election to capitalize on her current popularity. Takaichi is seen as a monetary dove who will cut interest rates and weaken the yen.

Silver continued its seemingly indomitable rise, reaching another record high behind increased strong investment and industrial demand, a five-year supply deficit, and a huge wave of speculative buying among retail investors in China.

Platinum and palladium slipped 0.9% and 0.1%, respectively.

At the New York spot close: gold dipped $15.10 to %4,589.20; silver surged $1.27 to $85.99; platinum shed $22.05 to $2,33380; and palladium edged down $2.20 to $1,876.35 an ounce.