Gold is glittering like never before! Prices skyrocketed to just under $5,595 an ounce on Thursday, a dramatic rise by over a quarter in just this month. But as rumors of U.S. action in Iran flew, gold dipped slightly to $5,250—though still almost double where it stood when Trump's second term began.

Silver’s no wallflower either! It leaped from under $30 to a dazzling $118 an ounce since Trump’s “liberation day” tariffs last April. This precious metal frenzy screams mania, says strategist Giuseppe Sersale of Anthilia, highlighting the “parabolic” market frenzy.

Why the rush for gold, you ask? It’s the ultimate safe haven, a beacon amidst Trump’s chaotic economic policies and global jitters. His aggressive tariffs, fiery threats towards Iran, and the shocking move of a criminal case against Fed Chair Powell have investors flocking to metals.

With Trump's incendiary remarks on social media criticizing Powell and the Fed’s latest rate decisions, analysts are warning of inflation risks, as Daniella Hathorn of Capital.com notes. There's more than just short-term market stress—a re-pricing of trust in currencies and institutions looms!

The World Gold Council confirms central banks are hoarding gold. Yet, despite representing global demand, 2025 purchases fell 21% to 863 tonnes. Retail investors are also jumping on the gold bandwagon amid this buying frenzy.

In the U.K., the Royal Mint calls to consumers, urging investment in gold’s timeless appeal. Silver, too, rides this speculative wave, offering a cheaper entry into the precious metals scene.

Meanwhile, the dollar shakes under Trump’s unpredictable policies. It's hit a four-year low against a basket of currencies. The euro's rise to break $1.20 is testimony to the currency's slide. UniCredit's Eszter Gárgyán ties it to geopolitical and Fed-related uncertainties.

Yet Trump shrugs off dollar concerns with conflicting messages from his administration on the ideal strength of the currency. Treasury Secretary Bessent maintains a “strong dollar policy,” amidst rumors and market movement.

Amidst all this, stock markets stand strong! The “magnificent seven” tech giants have driven a 17.9% rise in the S&P 500, riding the AI boom wave. Despite whispers of a bubble, investors keep dancing to the market’s thrilling tune.

So, what's next? Brace for continued drama as hopes of further interest rate cuts linger... while the world watches Trump's every move.

Gold and silver way down, dollar up today.

14 hours ago, Yellowtail said:

Gold and silver way down, dollar up today.

Finally, the long overdue correction is happening. A lot of leveraged "weak hands" were forced out of the market. Silver down massively. As usual: If Gold moves 1% Silver moves 3%.

I love lower Silver prices. For me, it's an invitation to dance. Always remembering, that engaging in Silver is the equivalent of riding on the back of a tiger.

10 minutes ago, swissie said:

Finally, the long overdue correction is happening. A lot of leveraged "weak hands" were forced out of the market.

It will go up again, and I wouldn't be surprised if that started Monday already.

Those precious metals had risen too much in a too short time span, so it is normal that there would be a correction.

As long as that idiot in the US is in power, gold will increase in price, because people are building safe havens.
Damn, I'm almost wishing now that the repubs win the midterms.

Did anyone read this?

https://finance.yahoo.com/news/tether-quietly-becomes-one-biggest-082304278.html

Tether Quietly Becomes One of the Biggest Global Gold Market Players, Holds 140 Tons of Gold

10 hours ago, CallumWK said:

Did anyone read this?

https://finance.yahoo.com/news/tether-quietly-becomes-one-biggest-082304278.html

Tether Quietly Becomes One of the Biggest Global Gold Market Players, Holds 140 Tons of Gold

I’ve read about that and find it interesting although I know nothing about cryptocurrencies. This was an interesting quote from another Tether related article.

"For our own portfolio, it's reasonable that we are going to have around 10% in bitcoin and 10% to 15% in gold," Ardoino said, without disclosing the value of Tether's investment portfolio or how much of it was held in physical gold.

https://www.reuters.com/business/tether-ceo-aims-allocate-up-15-its-portfolio-gold-2026-01-28/

More gold than Bitcoin? 🤔

The big question is how many people own gold and how many own IOU gold slips. To me giving money to a company that says that they can sell you shares in gold could be a fools bet. If there is an "ar," will they actually have enough gold to pay everyone?

Living here, I find it better and safer to buy the actual product. Buying a baht of gold or silver and holding it in my possession is much better than investing in a company that makes promises.

Also, if all hell breaks loose and I need money, I can simply take it to a shop, sell it, and get the cash that I need.

28 minutes ago, kingstonkid said:

The big question is how many people own gold and how many own IOU gold slips. To me giving money to a company that says that they can sell you shares in gold could be a fools bet. If there is an "ar," will they actually have enough gold to pay everyone?

Living here, I find it better and safer to buy the actual product. Buying a baht of gold or silver and holding it in my possession is much better than investing in a company that makes promises.

Also, if all hell breaks loose and I need money, I can simply take it to a shop, sell it, and get the cash that I need.

It's not really any different than buying equities, or even a fixed deposit, you have to assume the bank is going to be there to give the money back when you need it.

It depends on why you are buying. I bought as a hedge against equities and the dollar. I chose physical gold and silver rather than a fund, so that in the event the US goes bust, then at least I have something that will allow me to keep scratching out a living.

12 minutes ago, Yellowtail said:

It's not really any different than buying equities, or even a fixed deposit, you have to assume the bank is going to be there to give the money back when you need it.

It depends on why you are buying. I bought as a hedge against equities and the dollar. I chose physical gold and silver rather than a fund, so that in the event the US goes bust, then at least I have something that will allow me to keep scratching out a living.

YT you are correct I did the same thing when it came to buying.

My worry is that if the world goes to hell and gold is needed, then these companies will be like the depression or a lot of banks that have gone under, and they will not have the resources to pay out.

6 minutes ago, kingstonkid said:

YT you are correct I did the same thing when it came to buying.

My worry is that if the world goes to hell and gold is needed, then these companies will be like the depression or a lot of banks that have gone under, and they will not have the resources to pay out.

Well if that happens we will all have other

More important things to worry about ?

7 minutes ago, Jim Blue said:

Well if that happens we will all have other

More important things to worry about ?

But having a bit of a cushion is one less thing to worry about.

"Money does not necessarily make one's life better, but it does make it easier."

Trump.

On 2/2/2026 at 10:16 AM, kingstonkid said:

YT you are correct I did the same thing when it came to buying.

My worry is that if the world goes to hell and gold is needed, then these companies will be like the depression or a lot of banks that have gone under, and they will not have the resources to pay out.

If there is no fiat currency available people will barter. And what is more convenient than gold or silver. Money for thousands of years, and with good reason.

On 2/6/2026 at 2:56 AM, ericbj said:

If there is no fiat currency available people will barter. And what is more convenient than gold or silver. Money for thousands of years, and with good reason.

Both heavy and hard to use as money.

23 minutes ago, Harrisfan said:

Both heavy and hard to use as money.

$100 would only weigh less than 0.7gram!

8 hours ago, Harrisfan said:

Both heavy and hard to use as money.

You are right if referring to density.

A kilo bar in one's pocket would be a burden.

But I am too nervous, and don't really see the need, to carry around with me some 160,000 USD's worth.

Back when gold was about $1,200 an ounce I bought six of these gold CombiBars. The thinking is that in the event you had to barter, you could just break off a gram at a time. As I remember they carried a small premium over bullion

3 hours ago, Yellowtail said:

Back when gold was about $1,200 an ounce I bought six of these gold CombiBars. The thinking is that in the event you had to barter, you could just break off a gram at a time. As I remember they carried a small premium over bullion

An interesting product. Still realising that those 1.608 ounces would currently cost around 7900$. Surely there are smaller denoninations available. But the smaller the denomination, the higher the bid/ask spread.

4 minutes ago, swissie said:

An interesting product. Still realising that those 1.608 ounces would currently cost around 7900$. Surely there are smaller denoninations available. But the smaller the denomination, the higher the bid/ask spread.

You could make them half-grams.

Or make a one-ounce CombiBar, divided into hundredths, that would make them ~$50 each.

When I bought, I paid $2024.69 or ~$1259.14oz or ~$25.18 a gram.

FTSE 100 also just gone through all time high

10,542 at time of post