Precious Metals Surge Ever Higher as US Dollar Fades

Market analysts said the surge was unlikely to be associated with a gold bubble.

Gold and silver bullion is seen at Pallion in Sydney, Australia, on Oct. 14, 2022. AAP Image/Dan Himbrechts

Precious metals have been setting record after record in 2026—and the rally shows no signs of stopping with Donald Trump in the White House.

On Jan. 29, gold broke through the US$5,500 (A$7,770) an ounce level for the first time ever, just two days after breaking through $US5,000.