Gold surges past $5,500 amid Iran tensions, weakening US dollar

Al JazeeraCenterEN 2 min read 100% complete by John PowerJanuary 29, 2026 at 08:40 AM

AI Summary

short article 2 min

On January 29, 2026, gold prices reached a record high, surpassing $5,500 an ounce. The surge is attributed to renewed threats of military action against Iran by U.S. President Donald Trump and a weakening US dollar. Investors are turning to gold as a safe haven asset amid economic uncertainty and declining confidence in traditional options like government bonds. Gold's value has increased by over 20 percent since the beginning of the year, following a 64 percent increase in 2025. Asian stock markets initially opened lower but rebounded in the afternoon.

Key Entities & Roles

Key Player Opposition Context

SSE Composite Index 30% Japan 30% Nikkei 225 30% Hong Kong 30% Hang Seng Index 30% Shanghai 30% White House 40% United States dollar 60% United States ×270% Iran ×380% Donald Trump ×390%

Keywords

gold prices 100% iran tensions 80% us dollar 70% economic uncertainty 60% safe haven assets 60% military action 50% stock markets 50% precious metal 40%

Sentiment Analysis

Neutral

Score: 0.05

Source Transparency

Source

Al Jazeera

Political Lean

Center (0.00)

Far LeftCenterFar Right

Classification Confidence

90%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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gold prices iran tensions us dollar economic uncertainty safe haven assets military action stock markets precious metal

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