Precious and industrial metals hit record levels in early January 2026, driven by tightening supply chains, rising demand from green energy sectors, and renewed investor appetite for hard assets. Gold surpassed $2,450 per ounce, silver reached $41.80, and copper hit $12,350 per metric ton.
- Gold reached $2,450.30 per ounce—a new record high on January 13, 2026
- Silver hit $41.80 per ounce, up 23% YTD
- Copper rose to $12,350 per metric ton, its highest since 2011
- China’s central bank added 42 tons to gold reserves in December 2025
- COMEX and LME warehouse inventories down 18% and 12% over three months
- Gold ETF holdings increased by 15% in January 2026
Gold prices climbed to $2,450.30 per ounce on January 13, 2026, marking a new all-time high amid growing geopolitical uncertainty and expectations of lower U.S. interest rates. The rally was fueled by strong demand from central banks, particularly in Asia and the Middle East, with China’s central bank adding 42 tons to its reserves in December. Silver followed suit, closing at $41.80 per ounce—a 23% year-to-date gain—supported by surging industrial applications in solar panels and electric vehicles. Copper, a key indicator of global industrial health, surged to $12,350 per metric ton, its highest level since 2011, as major mining projects in Chile and the Democratic Republic of Congo faced operational delays. The metals’ rally reflects a broader shift toward tangible assets amid inflation fears and dollar weakness. Market participants are now closely monitoring inventory levels in COMEX and LME warehouses, which have declined by 18% and 12% respectively over the past three months, signaling tightening physical supply. The move has also triggered increased speculation in ETFs and futures, with gold ETF holdings rising by 15% in January alone.