Gold prices steady near record highs amid geopolitical tensions

 Gold prices maintained their upward momentum on Friday, trading near historical peaks as investors sought safety amid global economic uncertainty. On the New York COMEX exchange, spot gold stood at approximately $4,635 per ounce.

In Azerbaijan, the Central Bank set the official rate for gold at 7,805.85 AZN per ounce (250.96 AZN per gram) as of January 16, 2026.

The surge is driven by sustained demand from central banks and a shift toward defensive assets. Financial experts from Goldman Sachs and Bank of America suggest that if current trends persist, gold could breach the $5,000 mark later this year.