Gold Races for US$4,900/oz, Silver Meets Resistance at US$95/oz
January 22, 2026Good evening ladies and gentlemen, welcome back to our Australian Gold Mid-Weekly Review Section! We're just 3 weeks into the year, and gold and silver are on fire, and so are our precious metals stocks down under!
Gold is currently trading at US$4,857/oz and silver at US$94.79/oz. Gold is currently rallying amid ongoing geopolitical tensions concerning the U.S and President Donald Trump's intention to acquire Greenland, which has been met with opposition amongst European nations, with the added uncertainty surrounding the tariffs imposed by President Trump on select European nations in relation to the same matter.
Meanwhile, silver seems to be at a very interesting standpoint. Ever since yesterday, the metal is seeming to meet a very strong resistance at US$95/oz. The metal slightly crossed US$95 multiple times in the last 24 hours, only to be met with resistance and priced down to the US$94/oz range.
However, the ASX-All Ordinaries Gold Index is on absolute fire. The index is now at ~21,500 points, which is nearly a 2,000 point increase in the week thus far. Evolution Mining (ASX: EVN) has benefitted hugely from this gold rally as it has increased 10% today, making it a A$30 billion company. They've reported record cash flows this year: A$1.1B of operating mine cash flow, A$727M of net mine cash flow, and A$412M of group cash flow, alongside an AISC of A$1,493, which was below their cost guidance of FY26.
Additionally, St Barbara (ASX: SBM) has seen a 20% increase in their stock price today, to A$0.71/share following their release of their pre-feasability study on their 15-mile processing hub project, whose study shows an outstanding IRR of 80%, at extremely conservative gold prices of US$3,000/oz. The company has also benefited from gold's rally since the last two weeks, as have all other gold stocks based in Australia.
And that's it! Thank you so much for your engagement with our mid-weekly series. Every Wednesday, we aim to bring you the newest insights into the precious metals and mining markets to keep you investing journey up-to-date. Until then, see you next Wednesday!
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Brian contributes his insights on precious metals and mining stocks via free and paid newsletters with independent publisher, Fat Tail Investment Research. You can learn about his work by visiting www.daily.fattail.com.au. Fat Tail Investment Research is part of The Agora, a renowned international financial solutions publisher.
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