Gold prices are experiencing a resurgence after a period of decline, suggesting potential for reaching new records. Previously, prices had dropped from a peak of over $5,600 in January as investor focus shifted to technology stocks, particularly in semiconductors and AI. This shift indicates a changing sentiment in the market concerning precious metals.

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Market Extra

Gold prices are breaking higher after a tough stretch. Could fresh records be within reach?

Gold miners’ stocks can offer a high-quality play for investors worried about inflation and the Fed

Aug. 6, 2026, 4:57 p.m. ET

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(5 min)

Illustration of gold bars, dollar coins, and an upward trending financial chart against a green background, symbolizing financial growth. Gold is having a moment. Photo: MarketWatch photo illustration/iStockphoto

After months of being dead money, gold prices are finally showing some signs of life.

Until very recently, prices for the yellow metal had mostly been declining from a dramatic peak reached early in the first quarter. Gold GC00 had reached a record above $5,600 in January, following a parabolic run-up for prices of precious metals. But just as bullish sentiment seemed to be reaching a fever pitch, the trade started to falter, as investors turned their attention to hot semiconductor stocks and other popular artificial-intelligence-related names.

About the Author

Joseph Adinolfi

Joseph Adinolfi is assistant managing editor, markets. He is based in New York.

Philip van Doorn

Philip van Doorn writes the Deep Dive investing column for MarketWatch.

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