Precious metals kick-started the New Year on a strong note on Friday, resuming their rally after unprecedented gains in 2025, as geopolitical tensions and hopes of lower interest rates this year kept safe-haven demand intact. Spot gold climbed 1.3 percent to $4,372.02 per ounce as of 0357 GMT, after hitting ⁠a record high of $4,549.71 on December 26. It fell to a two-week low on Wednesday. US gold futures for February delivery gained 1 percent to $4,386.40/oz. “(Precious metals) seem to be making amends for the year-end selling which afflicted them earlier in the week. Year-end position-squaring pressures have eased and gold is kicking off 2026 with gains, now that fundamentals are again in focus,” said Tim Waterer, chief market analyst at KCM Trade. Bullion staged a stellar rally in 2025, ending the year with annual gains of 64 percent, its largest since 1979. Interest rate cuts, ‍bets of further easing by the US Federal Reserve, geopolitical conflicts, robust demand from central banks and rising holdings in exchange-traded funds ‍had fueled gold’s rally last year. Americans ‍filed the fewest new jobless ⁠claims in a month last week, and while the ‌numbers have eased from recent highs, ⁠a weak labour market […]