iShares Copper and Metals Mining ETF(ICOP.US)

New York futures gold broke through USD 4,700 per ounce, setting a new historical high, with an intraday increase of 2.3%

The risk mood keeps on the defensive as we look towards European morning trade

Geopolitical tensions are rising as Trump threatens tariffs on eight European countries over their opposition to US control of Greenland. The tariffs will start at 10% on February 1 and increase to 25% by June unless a deal is reached. This erratic policy is affecting risk sentiment, with precious metals rising and the dollar struggling. US stocks are facing challenges, particularly in the tech sector, as AI valuation concerns emerge. US futures are down, indicating a rough start, while European stocks may have better recovery potential after recent highs.

Spot gold hits record high of $4,690.57/oz

Spot gold hits record high of $4,690.57/oz

Stocks in Play: K2 Gold Corporation

K2 Gold Corporation announced plans to begin drilling at its Si2 Project near Tonopah, Nevada, around January 21, 2026. The drilling will target high-priority areas identified through geological studies and geophysical data, suggesting the presence of a significant low-sulphidation epithermal system with potential for high-grade gold. Currently, K2 Gold shares (V.KTO) are down 3 cents, trading at $0.77.

This Analyst is Now Calling for $10,000 Gold by 2030

Analyst Ed Yardeni predicts gold could reach $10,000 by 2030, driven by government deficits, geopolitical stress, and inflation. Central banks are buying gold at record levels, with K2 Gold Corporation planning a drilling program at its Si2 Project in Nevada starting January 21, 2026. The program aims to explore high-priority targets for gold mineralization, building on previous drilling results that indicated proximity to a significant gold zone. The project shares geological similarities with AngloGold Ashanti's Silicon Project, enhancing its potential.