Gold hits record high above $5,100 per ounce
Gold futures rose by more than 2 percent, surpassing the $5,100 per troy ounce mark, Qazinform News Agency correspondent reports.
According to trading data from COMEX, the price of the April gold futures contract reached $5,120 per ounce during the January 26 session, gaining $103. Intraday prices fluctuated between $5,039 and $5,145 per ounce, also marking a new 52 week high.
Over the past week, gold prices increased by 9.63 percent, rising 13.11 percent over the month and more than 84 percent year on year.
It is noted that a scheduled contract rollover from the January to the April futures took place on January 25, 2026, which may have contributed to increased trading activity and volumes. Trading volume for the contract exceeded 26,000 lots.
Gold contracts traded on COMEX provide for physical delivery of the metal. This means that one futures contract corresponds to 100 troy ounces, or about 3 kilograms of gold. However, most market participants do not take physical delivery, instead closing their positions in advance to lock in profits or losses based on price movements.
Earlier, it was reported that gold and silver prices had set new historic highs. On January 21, the price of the continuous gold futures contract rose to $4,878 per troy ounce, gaining $113 or 2.37 percent during the session.
