This is indeed a historic moment. On January 28, 2026, the international spot gold price broke through the historic threshold of $5,200 per ounce, marking a new level in the gold market.

Below are the core driving factors behind this gold price surge and the current market situation:
1. Core Driving Factors
• "Trust Crisis" in the US Dollar: Recent policy signals from the US government suggest support for a weak dollar, causing the dollar index to fall to its lowest point in nearly four years. Investors are abandoning fiat currencies and turning to gold as a safe-haven asset.
• Geopolitical Turmoil: Uncertainty surrounding trade tariffs (such as new tariff threats against multiple countries) and geopolitical tensions have greatly boosted market risk aversion sentiment.
• Federal Reserve Policy Expectations: The market is closely watching the Federal Reserve's policy meeting at the end of January. Although the consensus is to keep interest rates unchanged, the anticipation of future rate cuts has already triggered a "parabolic" rally in gold prices.
• Central Bank Accumulation: Central banks worldwide (especially emerging markets) are continuously reducing their dependence on the US dollar and shifting towards gold as a core reserve asset.