Bitcoin profitability decreased during the period, while gold prices experienced an upward trend. On Friday, January 23, 2026, gold traded around $4,950 to $4,970 an ounce after setting a new intraday high. The weaker U.S. dollar made gold more accessible to buyers outside the United States.
The rate cut expectations supported price increases because gold does not generate any interest payments. Gold becomes more appealing to investors when actual yields drop because they can compare it to interest-earning investments.
Goldman Sachs raised its year-end 2026 gold target. The bank cited strong demand from ETFs and continued central bank purchases. The projections showed institutional investors’ confidence in gold demand, which would continue to exist beyond the present market conditions.
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