AGE Daily Gold Update

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

1/21/2026: Gold tops $4,800 on Greenland

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained another 1.5% to close near $4,832, a new record, as geopolitical tumult about the US pursuit of Greenland continued to drive safe-haven demand despite somewhat conciliatory remarks from President Trump. Silver shed 2.1% to finish at $92.21 an ounce.

Speaking at the Davos economic forum, Trump reiterated his demand that EU leaders submit to his desire to obtain Greenland. But crucially, he also ruled out the use of military means to achieve his conquest, an option he had claimed earlier to be on the table.

Wall Street breathed a sigh of relief as the faint specter of intra-NATO warfare faded. Following their worst day since last April, all three major US indexes rose more than 1% and investors stopped selling off other US assets. The dollar was nearly flat after plunging the day before.

Benchmark 10-year US Treasury yields fell slightly, boosting gold by reducing the opportunity cost for holding it instead of bonds for safety.

The National Bank of Poland approved a plan to increase its gold holdings by another 150 tonnes as it prepares for further global upheaval. Aggressive purchasing by central banks has been a primary driver in gold's record rallies in recent years as nations try to protect their currency reserves from geopolitical instability.

Platinum and palladium added 2% and 0.4%, respectively.

At the New York spot close: gold gained $72.20 to $4,831.80; silver shed $2 to $92.21; platinum picked up $48.90 top $2,480;40; and palladium rose $7.50 to $1,870.55 an ounce.