Gold price jumps above $5,000, silver price surges 6% as Fed Minutes and global talks drive market volatility – will gold hit $6,000 and silver reach $309

Gold and silver price prediction 2026: Gold and silver staged a strong rebound on Wednesday as investors navigated a mix of geopolitical headlines and anticipation ahead of the US Federal Reserve’s January meeting minutes.

Gold Price and Silver Surges Today Ahead of Federal Reserve Minutes

Spot gold climbed 2.6% to $5,005.44 per ounce by mid-morning trading, recovering from Tuesday’s drop to $4,841.74, as per a report. Gold futures for April delivery also gained 2.2%, reaching $5,013.70. Silver followed with even stronger momentum, jumping around 6% to $77.97 per ounce after falling more than 4% in the previous session, as per an Investing.com report.

US-Brokered Ukraine-Russia Talks Impact Safe-Haven Demand

Markets are closely watching global developments. The first round of US-brokered peace talks between Ukraine and Russia in Geneva lasted about two hours, with Ukrainian President Volodymyr Zelenskiy calling the discussions “difficult” and accusing Moscow of delaying progress.


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Iran Nuclear Negotiation Signals Add to Market Uncertainty

At the same time, Iran said it had agreed on “guiding principles” with Washington for renewed nuclear negotiations, although a comprehensive deal appears distant. Analysts say such diplomatic efforts could cool safe-haven demand for precious metals like gold and silver, as per the Investing.com report.

Gold Hits Record $5,594 Before Pullback on Fed Leadership Shift

Gold, long seen as a hedge during uncertainty, had surged to a record $5,594.82 on January 29 amid heavy speculative buying. It tends to perform well in low-rate environments, and in recent months, strong ETF investment demand from China and across Asia has played a major role in driving prices.

However, sentiment shifted after Kevin Warsh was nominated as the next Federal Reserve chair. Gold slid sharply, falling to as low as $4,403.24 earlier this month before stabilizing.

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Asian ETF Demand Emerges as Key Driver for Gold Prices

Rick Kanda, Managing Director at UK-based dealer The Gold Bullion Company, said gold is particularly vulnerable if Asian ETF demand reverses. He said, “Investment demand for gold ETFs from Asia has recently become a critical driver of gold prices, so if this demand slows down, gold will be highly exposed," adding, "As Asian market Investors are very momentum-driven and sensitive to changes, a price correction could trigger a wave of selling, which would cause a short-term decline in gold prices," as quoted by Investing.com.

China’s Central Bank Extends Gold Buying Streak to 15 Months

Still, central bank buying remains firm. China’s central bank increased its gold reserves for the fifteenth consecutive month. According to Kanda, central banks take a long-term view and are less reactive to short-term price swings compared to ETF investors. That steady demand could help cushion the downside.

Why Silver Price Is Rising

On silver, Kanda expects stronger relative performance over the next few years. While he believes both metals will benefit from favorable economic conditions, he sees silver rising more sharply, supported by industrial demand.

Silver Price Prediction 2026: Bank of America Forecasts Silver at $135–$309

Kanda noted that silver surged 130% in 2025, with significant swings along the way. While many predicted silver would reach around $80 per ounce by the end of 2026, he believes it could surpass that level. Bank of America has forecast a range of $135 to $309 for 2026, citing gold-to-silver ratio compression. Kanda agrees silver could hit record highs by year-end, largely driven by industrial demand.

Gold Price Prediction 2026: Gold Could Approach $6,000 if Central Bank Buying Continues

Gold, which rose 64% in 2025 amid escalating tariff wars, geopolitical uncertainty and shifts in global reserve strategies, could also climb further. If central banks continue buying aggressively, Kanda expects gold to approach $6,000 per ounce by the end of 2026.

FAQs

Why did gold prices rebound?
Gold recovered as investors reacted to geopolitical updates and awaited the Federal Reserve’s January meeting minutes.

How are global talks affecting gold?
Peace talks and renewed negotiations may reduce safe-haven demand, which can impact gold and silver prices.