As January 26th marks the entry into the first month of 2026, global capital markets are witnessing an epic rally led by precious metals. RadexMarkets observes that risk aversion and asset revaluation are driving gold and silver prices towards milestones at an unprecedented pace. Resonating with multiple macroeconomic factors, gold came within a whisker of the $5,000 per ounce milestone, with the gap narrowing to less than $40. Meanwhile, silver's performance was even more aggressive, successfully breaking through $99 and standing just one step away from the historic triple-digit pricing level.
Against the backdrop of broad precious metal strength, RadexMarkets indicates that the platinum market is also not to be outdone. After recording a stunning single-day gain of nearly 6%, its price touched a high of $2,600 per ounce, with bullish momentum remaining intact. Looking back over the weeks since the start of 2026, the year-to-date gains for gold, silver, and platinum have reached 15%, 38%, and 30% respectively. This data far exceeds previous market consensus, prompting numerous major global institutions to upwardly revise their price forecasts for precious metals.
In equity markets, RadexMarkets believes that despite the complex macro environment, U.S. stocks have demonstrated remarkable resilience after experiencing early-year volatility. Boosted by the better-than-expected latest Q3 GDP revision (showing annualized growth of 4.4%), Wall Street's confidence was lifted, with the Dow Jones Industrial Average (DJI) approaching a fresh record high during Thursday's session. However, performance in the currency markets was mixed. The U.S. dollar weakened against major currencies, with the British Pound and Euro climbing to $1.35 and $1.175 respectively, while the Japanese Yen continued to hover near historic lows against the dollar, approaching 159 yen.
Regarding the current diversified investment environment, although some geopolitical tensions have eased, the trend of safe-haven capital inflows has not substantially weakened. Precious metals are currently enjoying a premium advantage from their elevated positions. In the digital asset space, Bitcoin (BTC) maintained a consolidative pattern below the $90,000 threshold. RadexMarkets suggests that investors should pay close attention to subsequent market data revisions and geopolitical developments to assess whether this historic rally possesses the supporting force to initiate the next phase of a long-term trend.
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