International gold prices break through $5,100. How should crypto traders seize the golden bull market?

International gold prices are experiencing an unprecedented upward cycle, rising from突破4,000美元 to surpass the 5,100美元 mark in just over three months. This precious metals bull market driven by “de-dollarization,” a global central bank gold-buying wave, and geopolitical risks has not only impacted traditional financial markets but also brought new opportunities and challenges to the crypto asset sector.

For traders on the Gate platform, understanding the dynamics behind gold price charts may help seize more opportunities within diversified asset allocations.

01 Historic Breakthrough

On January 26, 2026, the global financial markets witnessed a historic moment—London spot gold prices consecutively broke through the key levels of 5,000美元 and 5,100美元 during trading, reaching a high of 5,110.25美元 per ounce.

This breakthrough was no coincidence. Looking back at gold’s upward trajectory, its acceleration is remarkable: from 1,000美元/ounce in 2008 to 2,000美元/ounce in 2020, taking 12 years; from 2,000美元 to 3,000美元 by March 2025, taking 5 years; and from 3,000美元 to 4,000美元 by October 2025, in just about half a year.

The rally in precious metals has extended from gold to silver. London spot silver prices also surged to a high of 109.35美元 per ounce, with gains exceeding 40% since early 2026.

02 The Three Drivers

The upward momentum of gold is driven by three core factors, creating a strong resonance effect.

The renewed escalation of trade conflicts is the first driver. On January 17, former U.S. President Trump indicated the possibility of tariffs on goods from multiple European countries. Although later announced as a pause, the sharp increase in trade friction probability has heightened market uncertainty.

The continuous gold purchases by global central banks form the second key support. Recently, the Polish central bank approved a plan to buy up to 150 tons of gold, potentially increasing the country’s total gold holdings to 700 tons. This trend is not limited to Poland—our country’s central bank has increased gold reserves for 14 consecutive months, adding 860,000 ounces in 2025.

Rising geopolitical risks provide risk premiums for precious metals. U.S. military actions against Venezuela, threats against Iran, and sovereignty claims over Greenland have all intensified global geopolitical tensions.

03 Diverging Institutional Views

In the face of this historic breakthrough in gold prices, financial institutions have offered different analyses and forecasts.

Goldman Sachs issued a strong bullish signal, significantly raising its gold target price for the end of 2026 from 4,900美元/ounce to 5,400美元. They believe that the wave of central bank gold purchases is expected to continue, with monthly buying volumes possibly remaining at high levels of 60 tons.

Dongwu Futures believes that, driven by de-dollarization, geopolitical risks, and global central bank gold buying, gold prices still have upward momentum. UBS states that diversification needs are the core driving force behind this round of gold price increases.

Dongfang Jincheng Research and Development Department Senior Vice President Qu Rui predicts that before the Spring Festival, international gold prices are expected to fluctuate between 4,800 and 5,200美元/盎司.

04 Chain Market Reactions

The historic breakthrough in gold prices has quickly triggered a series of chain reactions in related markets.

In the domestic market, top brands such as Chow Tai Fook, Chow Sang Sang, and Lao Feng Xiang have generally raised the price of pure gold jewelry to 1,570–1,580元人民币 per gram. Due to the rapid rise in gold prices, many fixed-price gold jewelry pieces could not be re-priced in time, resulting in “gold price inversion.”

The precious metals sector in the A-share market has experienced a collective surge. On January 26, Lao Pu Gold rose over 11%, Chifeng Gold over 7%, and Zhubeng Gold, Lingbao Gold, China Gold International, and others increased by more than 5%.

In terms of account gold, real-time trading prices of bank stored gold also rose accordingly, with some banks’ stored gold prices surpassing 1,140元/克. This series of market reactions highlights the widespread impact of rising gold prices.

05 Opportunities in the Crypto World

The strong performance of the gold market has created interesting interactions with the crypto asset sector. Crypto traders and precious metal investors often share similar risk preferences and inflation hedging needs, both closely monitoring macroeconomic factors and geopolitical risks.

On the Gate platform, investors can participate in gold-related opportunities through various means. In the spot market, trading of gold-related assets is active, providing traders with direct access to this trend.

The “digital gold” narrative in the cryptocurrency world resonates with the hedging properties of physical gold. As traditional finance and crypto finance boundaries blur, the correlation between gold and crypto assets is becoming a new dimension of investor focus.

06 Market Outlook and Risks

Looking ahead, the trend of gold markets will continue to be influenced by multiple factors. Dongwu Futures points out that key variables to watch include the US-EU tariff process, the situation of Federal Reserve chair candidates, and the Middle East and Greenland geopolitical developments.

Xia Yingying, head of the Precious Metals and New Energy Research Group at Nanhua Futures, predicts that in 2026, gold prices may challenge the 6,000美元/盎司 level. She believes that amid the US mid-term election year, geopolitical uncertainties may recur.

Recently, the Chicago Mercantile Exchange has implemented a series of cooling measures for gold futures, raising margin requirements for several contracts. These measures have dampened market speculation enthusiasm and reduced capital efficiency but have not changed the fundamental upward trend of gold prices.

Future Outlook

When gold prices broke through 5,100美元, a gold recycling store in Shanghai was crowded with over 30 waiting customers. The real-time quotation system in the store kept refreshing prices for gold, silver, platinum, and other precious metals.

The lively scene of traditional gold stores contrasts interestingly with the active trading on crypto exchanges. Whether conservative investors putting funds into physical gold or pioneering users trading crypto assets on Gate, they are all responding to global economic uncertainties in their own ways.

Every candlestick on the gold price chart not only reflects changes in geopolitical and monetary policies but also depicts a global rethinking of value storage methods.