Gold hit a record $4,510 per ounce on January 12, 2026, due to geopolitical tensions.

Gold hit a record $4,510 per ounce on January 12, 2026, fueled by geopolitical tensions in Iran and Venezuela, boosting demand for safe-haven assets. Silver prices and drilling results at Sunshine Metals’ Liontown project in Australia are prompting a strategic shift toward silver production. ITech Minerals confirmed gold and antimony mineralization in the Northern Territory, supporting regional exploration interest. Base metals rebounded on the LME, led by copper rising to nearly $13,000 per tonne. Meanwhile, BHP may challenge Rio Tinto’s potential Glencore bid to become the top global copper miner. The Surface Transportation Board proposed new rail access rules to improve freight competition.