Spot gold surges 10% in 20 days, breaking through $4,800 per ounce for the first time

GateUser-6433627c · 2026-01-21T01:13:44+00:00

On January 21, spot gold rose by 10%, breaking through $4,800 per ounce for the first time, with an increase of over $480 year-to-date. Due to international turmoil, Trump increased military pressure on Iran and also threatened tariffs on Europe, intensifying market concerns over a trade war. Additionally, the Japanese government bond market experienced a sell-off, with yields soaring significantly.

GateUser-6433627c

2026-01-21 01:13:44

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January 21, according to CEX market data, spot gold surged 10% over 20 days, breaking through $4,800 per ounce for the first time, with a year-to-date increase of over $480. International tensions have risen again, with U.S. officials stating that although last week’s strike plans against Iran have been withdrawn, Trump seeks to achieve a “decisive” effect on Iran, increasing the likelihood of military action. Trump has intensified tariffs threats against Europe and made a tough stance on Greenland at the Davos Forum, further fueling market concerns about a potential new trade war between the U.S. and Europe. Today, the Japanese government bond market also experienced a sudden sell-off, with 30-year and 40-year yields soaring over 25 basis points in a single day, described by traders as “the most chaotic trading day in recent years.”

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