Specifically, spot gold surged by 2.2%, reaching $4,609.58 per ounce on the morning of January 13th, after briefly hitting a record high of $4,629.94 per ounce. In the futures market, the February U.S. gold contract closed 2.5% higher at $4,614.70 per ounce.
The sharp rise in gold prices was fueled by growing concerns over reports that President Donald Trump’s administration is intensifying pressure on the Federal Reserve, including potential criminal investigations into Fed Chair Jerome Powell. These developments have raised fears about the central bank’s independence, prompting increased demand for gold as a safe-haven asset.
“Heightened uncertainty has always been a catalyst for the gold market. It seems like every week brings a new risk factor,” noted Michael Haigh, Global Head of Commodities Research at Societe Generale. According to Haigh, the fundamental factors driving gold’s rally are unlikely to reverse anytime soon.
Global gold prices set a new record, surpassing $4,600 per ounce during the trading session on the morning of January 13th.
Last year, gold prices soared by over 64%, marking the strongest annual gain since 1979. Silver saw an even more remarkable surge, climbing 146.8%, as investors sought refuge amid global economic and political volatility.
Fed Chair Jerome Powell’s term is set to expire in May. U.S. media reports suggest that the Trump administration is considering Rick Rieder, BlackRock’s Chief Investment Officer, as a potential successor.
On the monetary policy front, the Fed is expected to maintain interest rates at its late January meeting, following a cumulative 75 basis points cut last year. However, markets anticipate two additional rate cuts this year, further enhancing the appeal of non-yielding assets like gold.
Geopolitical tensions remain a key driver for precious metals, as the U.S. weighs responses to unrest in Iran and other contentious international issues.
In other precious metals, spot silver reached a record high of $86.22 per ounce before easing slightly but still gained 6.8% to $85.39 per ounce. Platinum rose 3% to $2,342.10 per ounce, while palladium advanced 2.5% to $1,861.44 per ounce.
Silver Prices Extend Rally on January 13th
Silver prices today remain steadfast at elevated levels, both domestically and globally, reflecting sustained market resilience and investor confidence.
Silver Surges Ahead of Gold: Bao Tin Capital CEO Calls It the “Hyperactive Sibling” of Precious Metals
Silver is emerging as a standout investment channel, with prices soaring up to 175% in 2025, according to Dinh Ngoc Dung, Chairman and CEO of Bao Tin Capital. However, this meteoric rise also brings significant risks for investors.
Dr. Vo Tri Thanh: High Savings Rate, Yet Challenges Remain in Effective Investment Conversion
Dr. Vo Tri Thanh emphasizes that to sustain Vietnam’s development trajectory, especially with long-term goals set for 2030–2045, fostering trust, strengthening institutional frameworks, and creating a conducive business investment environment are paramount.
International Media Assesses Vietnam’s Economic Growth Prospects
Vietnam is poised to embark on an ambitious economic and infrastructure program to sustain growth, attract further foreign direct investment (FDI), and proactively navigate global economic uncertainties.
Gold Prices Surge: SJC Gold and Ring Gold See Significant Increase on January 12th
Today’s surge in gold prices has reached a remarkable high, with an increase of up to 2.2 million VND per tael. SJC gold has soared to 162 million VND per tael, while gold rings in some locations have also surpassed the 161 million VND per tael mark.
