COMEX February gold futures broke above the historic $5,000 per ounce mark for the first time during Globex electronic trading on Sunday night, Jan. 25, 2026.
According to a survey by Kitco News, some analysts remain strongly bullish on gold’s outlook, citing heightened geopolitical tensions, lingering concerns over political influence on the US Federal Reserve and worries about equities valuations and momentum in commodities.
Market analysts agreed that the primary force behind the latest gold rally is the ongoing weakening of the US dollar. The continued selling of US Treasuries, whether for geopolitical leverage or debt sustainability, has reinforced the broader weakening trend of the US greenback, with part of the outflows finding their way into gold.
Despite the optimistic outlook, some analysts warned that gold prices may face a technical pause or a sharp correction in the near future. / XINHUA