Gold surges past $4,600 as Silver, Platinum hit record highs

January 12, 2026 / 9:43 AM

Sharjah24-WAM: Gold prices surged to unprecedented levels on Monday, breaking through the US$4,600-per-ounce mark for the first time, while silver and platinum also reached fresh all-time highs. The rally underscores strong momentum across precious metals markets, driven by heightened investor demand and bullish sentiment.

Spot gold rose 1.5 per cent to US$4,478.79 per ounce by 0127 GMT, after reaching a record high of US$4,600.33 earlier in the session. US gold futures for February delivery followed suit, firming 2 per cent to US$4,591.10.

Silver and platinum extend historic gains

Silver posted one of the session's strongest performances, rising 4.4 per cent to US$83.50 per ounce. Earlier in the day, the metal reached an all-time high of US$83.96, reflecting growing interest from both the industrial and investment sectors.

Platinum also advanced sharply, adding 2.9 per cent to US$2,338.54 per ounce, after reaching a record high of US$2,478.50 on 29 December. Meanwhile, palladium gained 4.2 per cent to trade at US$1,892.18 per ounce.