Gold, Silver Prices Plummet: Is the Bubble Bursting Amid Fed Chair Speculation?
Business
N
News18•30-01-2026, 22:12
Gold, Silver Prices Plummet: Is the Bubble Bursting Amid Fed Chair Speculation?
- •Gold prices crashed over 8% in a single day, falling below $5,000, driven by profit-taking after hitting record highs.
- •The strengthening US dollar, fueled by expectations of a new hawkish Federal Reserve Chairman, negatively impacted gold.
- •Spot gold fell 5% to $5,124.37 per ounce, while US gold futures dropped 3.9% to $5,118.40.
- •Other precious metals also saw significant declines: silver fell 11.7%, platinum 10.9%, and palladium 8.4%.
- •Despite the crash, gold is still up over 18% for the month, and silver up 42%, indicating strong underlying demand.
Why It Matters: Gold and silver prices saw a sharp decline due to a stronger dollar and profit-taking, despite strong monthly gains.
✦
More like this
Loading more articles...
