"Gold and silver have had an exceptional year, breaking record high prices on what's felt like a daily basis. But, as the saying goes, what comes up must come down. On Friday, January 30, gold fell over 6.4%, to $4,962 per ounce in the lead-up to President Trump's announcement that Kevin Warsh is his pick to be the new Federal Reserve chair. Even a week ago, gold reaching over $4,900 would have been a record-breaking feat."
"Silver, too, took a tumble on Friday. It fell more than 15% to near $95 per ounce after reaching a record high of over $121 per ounce the day before. The latter had meant that silver was up more than 65% this year and over 252% in the last 12 months. At publication, silver was at about $103 an ounce, just over an 11% one-day drop."
Gold and silver surged to record highs, with gold topping $5,000 for the first time and peaking above $5,580 by Thursday. Gold rose about 23% for 2026 and more than 80% over the last 12 months, then fell over 6.4% to $4,962 on January 30 ahead of President Trump's announcement naming Kevin Warsh as his pick for Federal Reserve chair. As of publication gold was about $5,132 an ounce, a one-day drop of over 4%. Silver reached a record above $121, rallied over 65% year-to-date and 252% year-over-year, then slid more than 15% and was about $103 at publication.
Read at Fast Company
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