On January 23, gold and silver are rewriting history with an unstoppable momentum. EasyMarkets stated that as the March Comex futures contract hit a new all-time peak of $95.885, silver has become the focal point of the current commodity market.

Gold is following closely behind, with prices steadily approaching the critical $4,900 mark after the February contract surged by over $43. EasyMarkets believes this chart-driven strong buying reflects the market's firm confidence in the bullish structure of precious metals, and their safe-haven appeal remains undiminished even as overall market risk appetite has somewhat recovered.

A temporary easing of geopolitical tensions has surprisingly failed to curb the rise of precious metals. EasyMarkets indicated that although a potential agreement framework concerning Greenland has reduced the risk of escalating tariffs, and a rebound in the Japanese government bond market has stabilized anxiety in the global bond market, investor demand for hard assets remains robust.

The continued weakening of the U.S. dollar index and the U.S. 10-year Treasury yield holding around 4.25% are providing sustained liquidity support for non-yielding precious metals. Meanwhile, EasyMarkets believes that crude oil prices fluctuating near $59.75 further highlights gold's hedging advantages.

From a technical analysis perspective, both gold and silver are exhibiting extremely high bullish momentum. EasyMarkets stated that the next key target for gold bulls is directly aimed at the $5,000 milestone, with the current historical high of $4,891.10 now serving as the primary psychological support level.

In the case of silver, bulls have completely seized control of the charts, with their next milestone closing target being a breakthrough of the $100 mark. EasyMarkets considers that, given the extremely high technical score, any short-term pullbacks are likely to attract renewed institutional capital inflows.

In the current volatile trading environment, EasyMarkets will continue to provide traders with transparent price feedback and professional risk management support. The firm will assist clients in capturing the pulse of the trend through precise chart analysis during this phase of accelerating precious metal price surges, enabling more efficient asset allocation.