India, Jan. 26 -- Gold prices surged to a historic high on Sunday, touching the $5,000-per-ounce mark for the first time and marking one of the strongest rallies in the precious metal's history.

Following gold's sharp rise, silver prices have also climbed, hovering around $100-$105 per ounce.

In the first 26 days of this year alone, gold prices have jumped nearly 15%, extending a record-breaking run from 2025, when the metal soared 65% - its biggest annual gain since 1979, CNN reported.

The rally has also been fuelled by a weaker US dollar, higher-than-expected inflation, and sustained purchases of gold by central banks worldwide.

On Monday, gold prices climbed further to an all-time high of $5,092.71 per ounce.

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