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Options Traders Bet Gold to Rally More After Breaking $5,000 - BLOOMBERG

JANUARY 28, 2026

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Options traders are betting on a further rally in gold prices after the precious metal smashed through $5,000 an ounce for the first time ever.

Bullion surged 2.5% to top $5,100 in a broad metals rally that’s fueled partly by the reopening of the so-called debasement trade, as investors shied away from sovereign bonds and currencies and moved into hard assets such as gold and silver. As President Donald Trump continues to challenge the post World War II rule-based order, investors are expected to keep diversifying away from US assets.

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