Gold and Silver Rally to Record Highs as Fiat Concerns Intensify
Gold futures surged to a historic $5,542.40 per ounce on January 29, 2026, capping a 27% year-to-date rally. The MOVE follows gold's breach of the $5,000 psychological barrier earlier in the week—a level that now serves as support rather than resistance.
Silver mirrored the ascent, vaulting 60% to $120/oz as the weaker dollar and geopolitical tensions fueled demand for hard assets. Trading desks report thinning liquidity as banks retreat from precious metals markets, their balance sheets strained by volatility.
The World Gold Council's 2025 data reveals unprecedented investment flows: 2,175 tons absorbed through ETFs and physical channels, an 84% annual increase. This isn't speculative froth but capital seeking refuge from central bank policy uncertainty and currency debasement risks.
