It’s not just XRP that is having a good 2026 so far. One of the world’s oldest assets, gold, is also having a good run in the first week of the year. Here’s where the precious metal stands, and why its price is rising.
An ounce of gold is close to its all-time high
The price of one ounce of gold reached $4,497.20 on Tuesday, according to data from Yahoo Finance. That price represents a 1% gain for the precious metal for the day so far, or an increase of $45.70 per ounce.
At over $4,497, gold is now near its all-time high of $4,549.74, which it reached just weeks ago on December 26.
Since the year began, gold has now risen about 2.8%. As Reuters notes, 2025 was a phenomenal year for gold. The precious metal rose 64% in the year—a gain of that magnitude has not been seen since 1979.
Why is gold rising?
That gold is up again near an all-time high is of little surprise given the investment history of the metal.
Gold has traditionally been a “safe-haven” asset—a resource people turn to when there is volatility or uncertainty in the markets or the world.
And 2026 has kicked off with a high level of geopolitical volatility and uncertainty thanks to America’s attack on Venezuela over the weekend to forcibly extradite its president, Nicolás Maduro.
The U.S government has indicted Maduro on a number of charges, including drug trafficking.
The foreign intervention from the United States has left governments around the world uncertain about America’s next steps under President Trump’s leadership. The forcible extradition of a sitting head of state—and apparent threats to use force against more countries—have many wondering if America may be on the cusp of a new doctrine that prioritizes military might over international rules-based norms.
Such a shift in policy would have wide geopolitical and economic ramifications, and the uncertainty about how far the Trump administration is willing to go down this new path has sent many investors seeking relatively safe-haven assets like gold, which generally fluctuates less in times of uncertainty than other assets, such as stocks.
Venezuela isn’t the only reason gold is up
Yet America’s strike on its South American neighbor isn’t the only reason gold is rising.
Several economic factors are also driving people to the safe-haven asset, Reuters points out. Those factors include U.S. manufacturing activity contracting more than expected in December and the chance America’s jobless rate could increase in the near future.
Both those factors can have negative consequences for the broader economy and signal a potential economic downturn. Safe-haven assets are a way for investors to hedge against such downturns.
Other precious metals up, too
Gold isn’t the only precious metal rising.
The price of platinum is currently up more than 5% today to $2,404.
Silver is also up significantly, rising by more than 4.6% today as of the time of this writing. The metal had a somewhat volatile December, rising and then falling at various points throughout the month. But it’s up more than 161% over the last year.
Interestingly, all this comes as traditional stock markets also continue to perform well. The S&P 500, Dow Jones, and Nasdaq Composite are all in positive territory for the week so far and close to record highs.