Gold prices surge to $4,922

WORLD CAPITALS, 22nd January, 2026 (WAM) — Gold prices rebounded on Thursday after an earlier drop of almost 1 per cent as traders took profits from recent gains in the precious metal, surging to $4,922 at the time of publishing.

Spot gold earlier climbed by around 0.8 per cent to about US $4,870 an ounce in late European trading, recovering from earlier losses.

Futures for February delivery also rose approximately 0.8 per cent to about US $4,880 per ounce. This lifted gold back toward recent peaks after it hit fresh highs in the preceding session, supported by a softer US dollar and sustained safe-haven demand.

The US dollar index dipped roughly 0.4 per cent against major currencies, making gold more attractive to overseas buyers.

Other precious metals also recorded gains:

-Silver rose more than 2 percent to around $95.3 per ounce, following a record high earlier in the week.

-Platinum advanced nearly 3 percent to about $2,550 per ounce, also near record levels.

-Palladium climbed roughly 3 percent to around $1,880 per ounce.

Analysts said gold’s resilience reflects ongoing investor demand amid market volatility and geopolitical uncertainty, while a weaker dollar and inflows by central banks continue to underpin the metal’s appeal.