London, Jan 26, 2026, 08:21 (GMT) — Regular session
- Anglo American shares climbed roughly 1% in early London trading.
- Miners stayed strong, buoyed by a record surge in precious metals and more stable iron ore prices.
- Traders are eyeing the Fed’s announcement later this week along with Anglo’s production report for February 5.
Anglo American (AAL.L) shares climbed 1.2% to 3,418 pence by 0821 GMT, after closing at 3,378 on Friday, Investing.com data showed. The stock fluctuated between 3,378 and 3,429 pence. Rio Tinto edged up roughly 0.9%, Antofagasta added about 2.5%, while Glencore remained mostly flat. (Investing)
It’s important now because miners have turned back into a fast gauge of risk appetite. When jitters hit the market, cash flows quickly through currencies, the dollar, and then into metals-linked stocks.
Anglo American faces its own checkpoint next week. Its quarterly production report will deliver fresh data on output and costs, likely shaking up investor expectations quickly.
Gold surged past $5,100 an ounce to hit a new record on Monday as investors sought safety, boosting sentiment across metals. Kyle Rodda, senior market analyst at Capital.com, cited a “crisis of confidence in the U.S. administration and U.S. assets.” Philip Newman, director at Metals Focus, warned of potential pullbacks but said “each correction” should attract buyers. Spot gold climbed 2.2% to $5,089.78 by 0656 GMT, Reuters reported. (Reuters)
Iron ore prices steadied following a recent drop, providing some relief for miners tied to steel demand. The most-active May iron ore contract on China’s Dalian Commodity Exchange closed morning trading up 1.02% at 793.5 yuan per metric ton. Meanwhile, Singapore’s key February contract gained 0.93%, reaching $104.6 a ton, according to Reuters. (Iron ore futures track expected prices.) (Business Recorder)
Currencies are keeping traders on edge. The yen jumped amid intervention worries, while the dollar pulled back. TD Securities strategist Prashant Newnaha noted that the weaker dollar “should underwrite continued metals outperformance” as investors brace for the Federal Reserve’s policy meeting later this week. (Reuters)
Behind the scenes, Anglo is navigating major corporate changes that go beyond any single day’s trading. Back in December, shareholders gave the green light to the company’s $53 billion all-stock merger with Teck Resources. The deal still awaits regulatory approval in multiple regions, Reuters reported at the time. (Reuters)
But the downside is straightforward. If the rally in precious metals loses steam or concerns about China’s demand resurface, miners could slide fast, with headlines outweighing the fundamentals.
Traders are watching the Fed and the dollar closely while also waiting on upcoming earnings. Anglo’s production report stands out as the next key trigger for the stock.
Anglo American plans to release its Q4 2025 production report at 0700 GMT on Feb. 5, per its official schedule. (Angloamerican)
