Business
Gold tops $5,000 for first time ever, adding to historic rally
Peter Hoskinsand
Adam Hancock,Business reporters
Hiba Kola/ReutersThe price of gold has risen above $5,000 (£3,659) an ounce for the first time ever, extending a historic rally that saw the precious metal jump by more than 60% in 2025.
It comes as tensions between the US and NATO over Greenland have added to growing concerns about financial and geopolitical uncertainty.
US President Donald Trump’s trade policies have also worried markets. On Saturday he threatened to impose a 100% tariff on Canada if it strikes a trade deal with China.
Gold and other precious metals are seen as so-called safe-haven assets that investors buy in times of uncertainty. On Friday, silver topped $100 an ounce for the first time, building on its almost 150% rise last year.
Demand for precious metals has also been driven by a range of other factors including higher-than-usual inflation, the weak US dollar, buying by central banks around the world and as the US Federal Reserve is expected to cut interest rates again this year.
Wars in Ukraine and Gaza, as well as Washington seizing Venezuelan President Nicolás Maduro, have also helped push up the price of gold.
One of the biggest appeals of gold is its relative scarcity. Only around 216,265 tonnes of the metal have ever been mined, according to the World Gold Council trade association.
That’s enough to fill between three to four Olympic-sized swimming pools. The majority of that was only extracted from the earth since 1950, as mining technology advanced and new deposits were discovered.
The US Geological Survey estimates that another 64,000 tonnes of gold can still be mined from underground reserves, although the supply of the metal is predicted to plateau in the coming years.
“When you own gold, it’s not attached to the debt of somebody else like a bond is or an equity where the performance of a company will drive performance,” said Nicholas Frappell, global head of institutional markets at ABC Refinery.
“It’s a really good diversifier in a very uncertain world,” he added.
‘People go to gold’
Gold saw a blockbuster year in 2025, with its biggest annual gain since 1979 as investors flocked to precious metals.
With financial markets spooked by concerns including Trump’s tariffs and fears that artificial intelligence-related stocks are overpriced, gold repeatedly hit new record highs.
“I think a large part of that is the extreme uncertainty we have around US policy,” said Nikos Kavlis from research consultancy Metals Focus.
While economic concerns can help to push up the price of gold, it also tends to rise when investors expect interest rates to be cut.
Lower rates typically mean smaller returns for investments such as bonds, so investors look to assets like gold and silver.
The US Federal Reserve is widely expected to cut its main interest rate twice this year.
“It’s inversely correlated because the opportunity cost of keeping the money in a [government bond] is really not worth it anymore, so people go to gold,” said Ahmad Assiri, Research Strategist at Pepperstone.
Getty ImagesIt’s not just investors who have been buying up gold.
Last year, central banks added hundreds of tons of bullion to their reserves, according to the World Gold Council.
“There’s a very clear shift away from the US dollar, which is benefiting gold immensely,” said Kavalis.
The start of this year has seen gold continue to rally but Frappell warns the “news-driven” market could also result in a fall in its price.
“There’s got to be scope for unexpected news that actually might be positive for the world and not necessarily positive for gold,” he said.
But not everybody is buying gold for purely investment reasons.
In many cultures, the metal is purchased during festivals or given as gifts at celebrations such as weddings.
In India, the annual Diwali festival is believed to be an auspicious occasion to buy precious metals in order to bring on wealth and luck.
According to the US investment bank Morgan Stanley, Indian households held $3.8tn of gold, equivalent to 88.8% of the country’s gross domestic product (GDP).
Neighbouring China is the world’s largest single consumer market for gold, with many believing that buying it brings good fortune.
“We often see a seasonal uptick in demand around Chinese New Year, which we are seeing at the moment to an extent,” said Kavalis, referencing the upcoming Year of the Horse, which begins in February.
Business
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Union Budget 2026 Live Updates: Union Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026-27 in Parliament, her record ninth budget speech. During her Budget Speech, the FM will detail budgetary allocations and revenue projections for the upcoming financial year 2026-27. Sitharaman is notably dressed in a Kanjeevaram Silk saree, a nod to the traditional weaving sector in poll-bound Tamil Nadu.
The budget comes at a time when there is geopolitical turmoil, economic volatility and trade war. Different sectors are looking to get some support with new measures and relaxations ahead of the budget, especially export-oriented industries, which have borne the brunt of the higher US tariffs being imposed last year by the Trump administration.
On January 29, 2026, Sitharaman tabled the Economic Survey 2025-26, a comprehensive snapshot of the country’s macro-economic situation, in Parliament, setting the stage for the budget and showing the government’s roadmap. The survey projected that India’s economy is expected to grow 6.8%-7.2% in FY27, underscoring resilience even as global economic uncertainty persists.
Budget 2026 Expectations
Expectations across key sectors are taking shape as stakeholders look to the Budget for support that sustains growth, strengthens jobs and eases financial pressures:
Taxpayers & Households: Many taxpayers want practical improvements to the income tax structure that preserve simplicity while supporting long-term financial planning — including broader deductions for home loan interest and diversified retirement savings options.
New Tax Regime vs Old Tax Regime | New Income Tax Rules | Income Tax 2026
Businesses & Industry: With industrial output and investment showing resilience, firms are looking for policies that bolster capital formation, ease compliance, and expand infrastructure spending — especially in manufacturing and technology-driven sectors that promise jobs and exports.
Startups & Innovation: The startup ecosystem expects incentives around employee stock options and capital access, along with regulatory tweaks that encourage risk capital and talent retention without increasing compliance burdens.
Also See: Stock Market Updates Today
The Budget speech will be broadcast live here and on all other news channels. You can also catch all the updates about Budget 2026 on News18.com. News18 will provide detailed live blog updates on the Budget speech, and political, industry, and market reactions.
We are providing a full, detailed coverage of the union budget 2026 here, with a lot of insights, experts’ views and analyses. Stay tuned with us to get latest updates.
Also Read: Budget 2026 Live Streaming
Here are the Live Updates of Union Budget 2026:
New Delhi: The Cabinet on Sunday approved the Union Budget 2026-27 during a meeting in Parliament chaired by Prime Minister Narendra Modi. A meeting of the Union Cabinet was held at Sansad Bhawan at 10 a.m., and after the Cabinet’s approval, Finance Minister Nirmala Sitharaman proceeded to Parliament to present the Budget.
Earlier, FM Sitharaman met President Droupadi Murmu and offered her a copy of the digital budget. The President also offered ‘dahi-cheeni’ (curd and sugar) to Sitharaman when she arrived at the Rashtrapati Bhavan. The Finance Minister was seen carrying her trademark ‘bahi-khata’, a tablet wrapped in a red-coloured cloth bearing a golden-coloured national emblem on it.
Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr V. Anantha Nageswaran, Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal and other officials were seen accompanying the Finance Minister. Sitharaman was set to present her ninth consecutive Union Budget in the Lok Sabha. In 2021, she switched to using a digital tablet to carry the Budget papers, further promoting a modern and eco-friendly approach.
The ‘bahi-khata’ is a red pouch that holds the digital tablet containing the Budget documents. This year, Sitharaman opted for a deep maroon Kanjeevaram saree from Tamil Nadu. The saree featured a deep maroon base with a contrasting border and subtle gold detailing, paired with a yellow blouse.
The Budget is likely to strike a deft balance of sustaining growth momentum and maintaining fiscal consolidation. It also needs to address near-term challenges emanating from unprecedented geopolitical flux, said economists. According to economists, the budget is likely to focus more on capital expenditure, especially in sectors deemed to be strategically important owing to prevailing geopolitical compulsions.
While the FY26 Budget was more tilted towards stimulating middle-class consumption with tax reliefs, the FY27 Budget’s approach to stimulating consumption will be selective, they added.
Business
Education Budget 2026 Live Updates: What Will The Education Sector Get From FM Nirmala Sitharaman?
Union Education Budget 2026 Live Updates: Union Finance Minister Nirmala Sitharaman will present the Union Budget 2026–27 on February 1, with a strong focus expected on the Education Budget 2026, a key area of interest for students, teachers, and institutions across the country.
In the previous budget, the Bharatiya Janata Party government announced plans to add 75,000 medical seats over five years and strengthen infrastructure at IITs established after 2014. For 2025, the Centre had earmarked Rs 1,28,650.05 crore for education, a 6.65 percent rise compared to the previous year.
Meanwhile, the Economic Survey 2025–26, tabled in the Parliament of India, points to persistent challenges in school education. While enrolment at the school level is close to universal, this has not translated into consistent learning outcomes, especially beyond elementary classes. The net enrolment rate drops sharply at the secondary level, standing at just over 52 per cent.
The survey also flags concerns over student retention after Class 8, particularly in rural areas. It notes an uneven spread of schools, with a majority offering only foundational and preparatory education, while far fewer institutions provide secondary-level schooling. This gap, the survey suggests, is a key reason behind low enrolment in higher classes.
Stay tuned to this LIVE blog for all the latest updates on the Education Budget 2026 LIVE.
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Trump says India will buy oil from Venezuela, not Iran
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