[MARKET UPDATE] Spot gold briefly touches the USD 5,200/oz level for the first time before pulling back from its new all-time highs

Newsquawk Staff · 28 Jan 2026, 01:32 UTC

Spot gold briefly touches the USD 5,200/oz level for the first time before pulling back from its new all-time highs.

What it means

Gold's momentary touch of USD 5,200/oz marks a significant milestone and reflects strong demand, possibly driven by market uncertainty or inflation concerns. The retreat from this peak may indicate profit-taking or a technical adjustment, warranting monitoring for any sustained pressure on prices or shifts in investor sentiment toward gold as a haven asset.

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EU Market Open, 9 Nov, 06:36 UTC · what it led with

US President Trump said it is highly unlikely the US will need to resume military action against Iran if negotiations progress, while Secretary of State Rubio said talks have been unproductive.
DXY consolidated after Friday's jobs-driven upside; Antipodeans outperformed, with the NZD aided by the weekend's election result.

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Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.
EUR/USD+0.1%
ECB policymakers see a December rate hike followed by a pause; New ECB staff estimates show the rise in bond yields cutting growth by a cumulative 100bps and inflation by 90bps in 2027-28 vs the September baseline, according to reports, citing sources.
EUR/USD−0.1%
ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.
EUR/USD+0.1%

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