Gold climbs to one-week peak

January 06, 2026 / 12:48 PM

Sharjah24: Gold prices advanced on Tuesday, reaching their highest level in a week, as comments from officials at the Federal Reserve reinforced market expectations of a potential interest rate cut later this year.

Spot and futures prices rise

Spot gold rose 0.4 percent to $4,465.32 per ounce, building on a nearly 3 percent surge recorded in the previous session. Meanwhile, US gold futures for February delivery edged up 0.3 percent to $4,465.70 per ounce.

Silver extends strong gains

Among other precious metals, spot silver jumped 2.9 percent to $78.72 per ounce, after previously touching a record high of $83.62 on 29 December, reflecting strong investor demand.

Platinum and palladium advance

Spot platinum climbed 2.5 percent to $2,327.17 per ounce, after hitting an all-time high of $2,478.50 last Monday. Palladium also gained ground, rising 0.8 percent to $1,721.74 per ounce, as optimism spread across the precious metals market.