Precious Metals Hit New Highs on Global Markets

15:56; 23 January 2026 year

### Precious Metals Prices Hit New Highs on January 23 Spot silver prices for March delivery surged to a record high of $99.34 per troy ounce during trading on January 23, according to market data. The February gold futures contract also rose by 0.81%, reaching a new high of $4,969.69 per ounce. Meanwhile, spot platinum prices for April delivery jumped by 5.3%, hitting a record $2,714 per ounce. Since the beginning of 2026, gold prices have increased by 14%, silver by 37%, and platinum by 30%. The rise in precious metals prices is attributed to increased geopolitical risks and a weaker U.S. dollar.

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