Spot Gold Hits New Highs: Key Views and Trend Analysis

Summary of Key Conclusions: Short-term remains relatively strong but with increased volatility and potential technical corrections; medium-term bullish outlook targeting $4,900-$5,000; long-term depends on the Federal Reserve's rate cut path and geopolitical risk developments.

• As of 18:00 on January 21, 2026, London Gold is quoted at $4,865.19 per ounce, up 1.88% intraday, with a high of $4,880.43 per ounce, setting a new all-time high.

• Domestic Gold T+D is reported at 1086.1 yuan/gram, with retail prices generally around 1498 yuan/gram.

• The full-year increase in 2025 exceeded 63%, and in the first half of January 2026, it has already risen about 6%, continuing an epic bull market.

#现货黄金再创新高