FX.co ★ Gold Rises to Kick-Start the Year

On the first trading day of 2026, gold prices surged to approximately $4,340 per ounce, marking the continuation of the commodity's most robust annual performance in over 40 years. Last year, gold appreciated by around 65%, with the climb gaining momentum from late April following the introduction of comprehensive global tariffs by the US administration. This upward trend has been bolstered by ongoing geopolitical tensions, forecasts of decreased US borrowing rates, continuous central bank acquisitions, and a resurgence of investments in gold-backed exchange-traded funds. Simultaneously, minutes from the Federal Open Market Committee's December meeting, released earlier this week, indicated a growing willingness among policymakers to relax monetary policy should inflation continue to decline, though there remains some disagreement concerning the timing and magnitude of potential interest rate reductions. Geopolitical issues continued to draw attention, particularly as the US increased its enforcement measures against Venezuela's oil commerce, and the renewed Russia-Ukraine confrontations over the New Year period impacted Black Sea ports and vital energy infrastructure.