Gold hit $4,370/oz on Jan. 5, 2026, amid global instability and safe-haven demand.

In early Asian trading on January 5, 2026, gold surged above $4,370 per ounce due to increased demand for safe-haven assets and increased geopolitical anxiety following unrest in Venezuela. Gold is outperforming cryptocurrencies in the rally, which reflects broader market concerns amid global instability. Analysts warn that a sharp correction could be triggered by a crypto downturn, pointing out the risks associated with the increasing involvement of the cryptocurrency sector in gold. Citing robust operations and growth potential at its Golden Goose project, Australian gold miner Northern Star stabilized following a reduction in guidance. While ESG and risk management continue to be major industry priorities, nickel prices also increased, providing hope for the faltering mining sector.