Tuesday 13/January/2026 – 09:34 PM
Gold and silver prices recorded record highs during Tuesday’s trading, driven by US inflation data that came below expectations, which strengthened investors’ hopes for easing monetary policy and lowering interest rates. Gold in spot transactions reached an unprecedented historical peak at $4,634.33 per ounce, before later settling around $4,591, while silver recorded its highest level ever at $89.10 per ounce before closing at $86.74, an increase of 2.1%.
Gold and silver prices
This price momentum came after the release of the core consumer price index in the United States, which recorded growth of 0.2% per month and 2.6% annually, which are numbers lower than analysts’ estimates, which encouraged the markets to bet on a rate cut twice during the current year.
Following the release of these data, US President Donald Trump repeated his call for the Federal Reserve to make a “significant” cut in interest rates to support the economy.
Despite expectations that the US Central Bank will keep interest rates steady at its meeting at the end of this January, political pressures and positive economic data have begun to impose a new reality on monetary policy directions. In this context, Commerzbank raised its expectations for gold prices by the end of the year to reach $4,900 per ounce, indicating that the yellow metal is still the biggest beneficiary of the current shifts in the financial vision of the US Central Bank and expectations of reducing the cost of borrowing.
Powell’s accusations and tariff threats
Besides economic factors, geopolitical and political uncertainty has contributed to increased demand for safe haven precious metals; Investors expressed increasing concern about the independence of the US central bank after the administration of US President Donald Trump opened a criminal investigation into its chairman, Jerome Powell, which sparked a wave of international criticism and concerns about the stability of monetary institutions.
David Major, director of metals trading at High Futures, noted that these questions, in addition to the ongoing military tensions and Russia’s bombing of Ukrainian cities, are pushing liquidity strongly towards gold and silver as strategic hedging tools against unexpected risks.
Concerns worsened in global markets after US President Donald Trump’s statements regarding imposing 25% customs duties on countries that trade with Iran, which threatens to open new fronts of trade dispute with major powers such as China.
Tariff threats and confusion in US monetary policy have created an ideal environment for non-yielding assets to grow; Palladium rose 1.4% to $1,868 per ounce, while platinum settled at $2,343. These movements confirm that gold and silver are no longer just investment tools, but rather have become a direct indicator of the extent of the political and trade tensions taking place in the international arena at the beginning of this year.
