Gold climbs to record as weaker dollar extends scorching rally
Yihui XieBloomberg
Fri, 23 January 2026 7:49AM
Gold rose to an all-time high, supported by a weaker dollar following US data that showed resilience in the job market and consumer spending.
Bullion climbed beyond $US4,955 ($7,244) an ounce in early trading and is on course for a weekly gain of nearly 8 per cent. The dollar slipped on Thursday after data revealed the US economy expanded in the third quarter by slightly more than initially reported. There was also a smaller-than-expected increase in applications for jobless benefits.
The Bloomberg Dollar Spot Index, a key gauge of the US currency’s strength, ended the previous session down 0.3 per cent.
Gold advanced 0.4 per cent to $US4m955.14 an ounce as of 7:10 a.m. in Singapore. Silver jumped 0.6 oer cent to $US96.80, also setting a record high. Platinum and palladium rose.
Bloomberg.
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