Gold Nears US$5,300!
January 28, 2026Good evening ladies and gentlemen, welcome back to The Australian Gold Mid-Weekly Review! Every Wednesday, we knock on your mailbox to deliver the latest insights into the precious metals and mining market. And this week, boy, do we have news to deliver!
Gold is currently trading at $5,280/oz. We'll let you guess the currency. Yes, it's US$5,280, not A$5,280. In Australian dollar terms, gold is now A$7,540/oz! Interestingly, gold was worth the same (number-wise) in Australian dollars in August, as it is worth today in US-dollar terms. Let that sink in. That's a 43% increase in the last five months alone for Australian gold holders. Gold spiked from the US$5,100/oz range to nearly US$5,300/oz today after the U.S dollar reached a four-year low today, coupled with President Trump's remarks on the matter stating he's not concerned about the fall in the U.S dollar.
Meanwhile, silver continues to be rangebound since its rally to US$117/oz on Monday. It currently trades at US$114/oz.
And finally, the ASX-All Ordinaries Gold Index is currently at 21,855.10 points, marking almost a 600 point increase in the week so far. No special drivers, just the index's constituent companies enjoying the gold rally.
And that's it! Thank you so much for dropping by The Australian Gold Mid-Weekly Review! Here at GoldHub, we have our own opinion on the pace of this gold rally, which we've discussed in last week's episode! We're carefully monitoring the developments in this rally and adjusting our portfolio accordingly, and bringing you our insights every Wednesday and Sunday through this article and our weekly wrap-up series on YouTube!. Till then, see you next Wednesday!
Stay tuned!
Brian contributes his insights on precious metals and mining stocks via free and paid newsletters with independent publisher, Fat Tail Investment Research. You can learn about his work by visiting www.daily.fattail.com.au. Fat Tail Investment Research is part of The Agora, a renowned international financial solutions publisher.
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