ABC Bullion Monthly Market Update January 2026

Fri Feb 06 2026

Precious metals extended their historic bull run into January, reaching all-time highs before experiencing sharp late-month volatility. Gold surged to an intramonth record of USD $5,596 per troy ounce (oz) before ending January at $4,865oz, still posting a robust 12.8% gain. Silver outperformed, rising 18.8% to USD $84.7oz after briefly trading as high as USD $121oz.

Even after factoring in the late-month pullback, January’s performance reinforced precious metals as standout performers, delivering outsized returns relative to other hard assets and major global equity benchmarks, including the S&P 500 and ASX 200.

The fundamental drivers behind the precious metals bull market remain firmly intact. Strong central bank and ETF accumulation, ongoing geopolitical tensions, safe-haven demand, persistent inflationary pressures, and a softer US dollar continue to support investor appetite.

Demand-wise, the strength across the precious metals sector has led to record levels of new account activations at ABC Bullion, in-store and online trade, and demand for both key physical products as well as our ABC Bullion Gold Saver.

It also provides the ideal backdrop for the release of the ABC Bullion January Monthly Market Update.

With detailed charts on gold, silver and platinum performance, inflation dynamics, commodity prices, comparisons of precious metals markets to risk assets and technical analysis, it is an invaluable resource that helps Australian investors navigate the precious metals market.

Source: https://www.abcbullion.com.au/