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Thursday January 29 2026

Gold price surges past $5,600 amid dollar weakness and geopolitical risk

29 January 2026 13:58 (UTC+04:00)
Gold price surges past $5,600 amid dollar weakness and geopolitical risk
Qabil Ashirov
Qabil Ashirov
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Gold crossing the $5,600 per ounce threshold marks a turning point in global finance. It signals the weight of accumulated risks, deepening uncertainty, and intensifying political turbulence across the world economy. What once seemed like extraordinary price levels are now becoming the new normal, and leading financial institutions argue that this rally is only at its dawn. Recent analysis from RBC Capital Markets underscores this point. The bank openly admits that its earlier forecasts for late 2026 are already outdated. The rapid weakening of the U.S. dollar, the expansion of geopolitical risks, and the intensification of global uncertainty have accelerated gold’s trajectory. It is no coincidence that in January 2026 alone, gold broke its all-time high eight times—a pace that dwarfs the 51 record highs seen across the entire year of 2025.

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