Top News

Could gold prices touch $5,000 in the near future, but most importantly, will it be able to hold onto this level?

In just the first three weeks of 2026, the yellow metal has consecutively broken through $4,700 and $4,800, setting new record highs. Market attention focuses on when gold will test $5,000, with safe-haven demand.

On Thursday evening, the metal was trading at $4,837.62 per ounce, up 0.06 per cent.

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

“Gold has already sent a clear signal — this rally is not a short-lived spike, but a redefinition of the market’s pricing range. Following the breakthrough of $4,700, spot gold continued its ascent on January 21, successfully surpassing $4,800 per ounce, once again hitting a record high. With such strong upward momentum, the market naturally asks — how long until gold tests $5,000? If it reaches this key round number, will it be able to hold and establish new support?” said Dilin Wu, research strategist at Pepperstone.

Dilin Wu

From a technical perspective, gold has consecutively broken through $4,700 and $4,800 with minimal pullbacks, reflecting exceptionally strong buying interest. Short-term speculative flows and safe-haven capital have jointly propelled prices higher, sustaining a strong and continuous upward trend.

“Global geopolitical tensions continue to rise, trade frictions between the US and Europe persist, and policy uncertainties around the US Federal Reserve increase gold’s relative attractiveness versus risk assets. At the same time, medium- and long-term bullish factors remain solid. The de-dollarisation trend has driven central banks to continue accumulating gold, the Fed remains in a rate-cut cycle, global economic growth is slowing, and ETF and physical demand stay robust — together, these factors stabilise the price base,” said the research strategist of Pepperstone.

Wu believes gold can test $5,000, but holding onto this level won’t be easy and doesn’t guarantee immediate stability for the precious metal.

“The reason is simple — $5,000 is a highly emotional and symbolically significant round number. Both technical traders and long-term bulls may choose to reduce positions, wait, or even trade against the trend at this level. Volatility could therefore intensify, and market divergence may become pronounced.

“Thus, the key question is not whether gold can hit $5,000, but whether it can be supported after reaching that level. If pullbacks are limited and short-lived, it may indicate that the price base is rising, paving the way for the next phase of gains,” he concluded.

Gold charges toward $5,000 as a new real-assets supercycle takes hold Dubai: Gold prices hit new record high on second consecutive day; 21K crosses Dh500 Dubai gold prices up Dh50 per gram so far this year, hit a record high