Gold Passes $5,000 Milestone; Major U.S. Stock Indexes Gain -- WSJ

Dow Jones01-27
 

By Joe Wallace

 

Gold prices tore past another milestone, with tariff threats against Canada and the possibility of a fresh U.S. government shutdown adding fuel to the metal's historic rally.

Futures for the precious metal rose 2% to surpass $5,000 a troy ounce for the first time. Silver futures soared 14%, its biggest one-day jump in 40 years, to a fresh record above $115 a troy ounce.

The upswing in precious metals boosted mining companies such as Freeport-McMoRan and Newmont. The three main U.S. stock indexes all rose about 0.6%.

President Trump said on Saturday he would put 100% tariffs on Canada if Prime Minister Mark Carney struck a trade deal with China.

The dollar weakened against a basket of currencies. Driving it down: a jump in the value of the yen, after Washington and Tokyo signaled they were prepared to intervene to support the Japanese currency.

Back in the U.S., natural-gas prices extended last week's rally as a winter storm disrupted swaths of the country, disrupting flights and leaving thousands without power. Futures for February delivery have roughly doubled from a week ago.

 

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(END) Dow Jones Newswires

January 26, 2026 15:48 ET (20:48 GMT)

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