In terms of the precious metals sector for January 2026, it was quite a month for gold and silver. Both had some notable movements in the spot prices. As always, these figures were captured weekdays at 8 p.m. ET, priced in Canadian dollars per ounce.

Gold

Gold started the year on a relatively quiet note. On January 2nd, the spot price sat at $5,945.72. However, that calm didn’t last long. The metal began a steady ascent right out of the gates. By January 12th, it had already crossed the $6,300 mark. The momentum continued to build throughout the month. Gold hit a significant stride around the 22nd, surging to $6,842.16. But the real action happened in the final week. On January 28th, gold hit its absolute peak for the month at a staggering $7,463.54. It was a volatile finish, though. Just two days later, on the 30th, the price pulled back sharply to close the month at $6,659.61.

Silver

Silver followed a similar upward trend, though with its own distinct character. It opened the month at $99.92 on the 2nd. There were some early fluctuations, but the overall direction was clearly up. By mid-month, silver was trading comfortably above $120. The rally intensified as January progressed. Like gold, silver saw its strongest performance late in the month. It peaked on January 27th at $154.63, showing incredible strength before dipping slightly the next day to $159.46—wait, that’s actually a dip? No, looking at the data, the 28th saw it hit $159.46, which is the high. My apologies, it peaked on the 28th. After that high-water mark, silver experienced a steep drop-off, closing out the month on the 30th at $115.98.

The Raw Data

That wraps up the precious metals for January. It was a month defined by powerful rallies and a dramatic end to the trading period. If you want to review the specific daily numbers, make sure to check out the full raw data post for January.