Gold prices climbed to a fresh record on January 20, 2026, extending a months-long rally and setting a new all-time high near $4,736 per ounce, according to market data. The move capped a steady advance that accelerated in the final quarter of 2025 and continued into the new year.
The latest surge pushed gold decisively above prior resistance levels seen in November and December, when prices briefly pulled back after sharp gains. By mid-January, buying pressure resumed, lifting the metal through successive highs and into record territory. At the peak, prices traded just under $4,736 before easing slightly.
Over the past year, gold has risen from the $2,700 range, marking a gain of more than 70% from the 52-week low near $2,703. A long period of consolidation occurred during mid-2025, followed by a strong breakout starting in early autumn. That breakout defined the current cycle and carried prices to repeated highs.
The new record also stands far above gold’s all-time low of about $866, recorded in April 2009. Since then, the metal has logged a cumulative increase of more than 440%, reflecting a prolonged upward trend across multiple market cycles.
Market data indicates relatively low volatility near 2.3% at the time of the peak, alongside a bullish sentiment reading. Gold’s total market capitalization was shown near $17.85 trillion as prices hovered close to the record level.
While prices edged slightly below the intraday high after setting the record, gold remained near its cycle high, signaling that the broader uptrend stayed intact at the time of the reading.
Exness Flags Safe Haven Bid as Gold Ranges Near Record High
Gold rose as investors weighed trade conflict concerns, which lifted demand for safe haven assets, according to broker Exness. In an X post, Exness stated that XAUUSD held in a narrow range between $4,655 and $4,680 near record levels while price action stayed consolidated.
Gold XAUUSD Four Hour Chart. Source: Exness
Chart depicting Gold (XAUUSD) on a four-hour timeframe, shared by Exness.
On the 4-hour chart shared by Exness, candles repeatedly tested the $4,680 area without a clean break, while support held closer to $4,655. This price action kept gold pinned near the top of its recent advance instead of triggering a sharp reversal.
Exness indicated that a move above $4,680 could open the way toward $4,720, which it identified as the 161.8% Fibonacci extension level.