Last Updated on January 23, 2026 by Deon
After a week that felt like a sprint to the summit, gold is finally taking a well-deserved breather. On Friday, the “yellow metal” eased back to around $4,900 per ounce, cooling off just slightly after touching a breathtaking record high of $4,966.93.
If you feel like the market is moving fast, you aren’t alone—this has been gold’s most powerful weekly performance since the early days of the pandemic in 2020.
Why the Sudden Surge?
It’s a mix of global “jitters” and a search for safety. Investors are currently looking at U.S. assets with a bit of a skeptical eye, wondering if the recent rally in stocks is sustainable. When that doubt creeps in, people instinctively reach for the oldest “insurance policy” in history: Gold.
The “Greenland” Factor
The geopolitical map got a bit messy this week. Markets let out a collective sigh of relief when President Trump stepped back from his tariff threats involving Greenland. While the President claims he’s secured “permanent access” to the island via a new NATO deal, the details are still a bit foggy. Denmark has been quick to remind everyone that sovereignty isn’t for sale, but for now, the immediate “trade war” fear has simmered down.
What’s Next? Eyes on the Fed
On the home front, the latest inflation data (the PCE report) came in exactly as expected. It wasn’t too hot, and it wasn’t too cold. For traders, this is a signal that the Federal Reserve will likely keep interest rates right where they are during next week’s meeting.
The Takeaway for You
Gold sitting near $4,900 isn’t just a number; it’s a reflection of a world trying to find its footing. Whether it’s tensions with Iran or confusing headlines about Greenland, the “Sunrise” for gold indicates that investors are still prioritizing protection over-optimism.
