Europe Asia News

Other metal prices also increased. Platinum benefited from safe-haven demand, while copper was supported by expectations of further stimulus measures in China, the world’s largest importer.

Spot gold rose 0.8% to $4,334.68 per ounce, while February gold futures gained 0.8% to $4,365.30. Spot gold is about $50 away from reaching new record highs.

Spot silver surged 3.6% to a record $66.3135 per ounce, while silver futures jumped 4.5% to $66.430 per ounce.

Markets are pricing in a potential silver supply shortfall in 2026 as demand for the white metal increases. Silver was designated a critical metal by the U.S. government earlier this year, boosting its appeal.

ANZ analysts said in a recent note that gold and silver prices are expected to continue rising in 2026 as uncertainty in the U.S. economy shows no signs of easing.

Mixed U.S. economic data released on Tuesday, particularly nonfarm payrolls and a high unemployment rate, increased safe-haven demand.

Weak December PMI data further strengthened signs of cooling in the U.S. economy.

Attention is now focused on U.S. consumer price index inflation data due on Thursday.