Posted on 02/01/2026 2:14:49 PM PST by nickcarraway
The price of gold fell from a record $5600 to $4770 per ounce. On Friday, the price of silver fell by 31%. This is the biggest percentage drop in the price of this bullion since March 1980. What could be the reasons for such declines?
Gold hit a new record high on Thursday at $5600 per ounce. Silver was trading at $120 per ounce. Suddenly, precious metal prices began to fall. By Friday evening, gold was already costing $470 per ounce.
Gold fever reached a new high at the beginning of 2026, with prices hitting a record earlier this week. All over the world, people queued up to sell bullion they already owned or to buy it.
Consumers went to local retailers to cash in their gold jewellery. Some are buying gold coins or bars for the first time. Others are investing in exchange-traded funds, trading the value of the metal in a way similar to trading shares.
(Excerpt) Read more at euronews.com ...
My shiny stuff sits in a safe. I neither lost, or gained, anything.
I just like the name, “Weronika Wakulska”.
Wait what?
“already costing $470 per ounce.”
If that’s not typo I am buying 20 lbs tomorrow morning...
You buy low, sell high not buy high, sell low.
I personally prefer copper. Unlike gold or silver it is less driven by emotions.
NBA stars cashing in their bling?
no where did the sucker lure uptick come from!-)
I prefer the proper combination of semi-precious metals, copper, brass, lead - in the proper proportions.
They become very valuable in difficult times...
(Hint, at high velocities)
But seriously if you are going to do commodities do the ones that are worth something.
Like I said, copper is my go to.
Never goes really high but never drops that low either. A nice slow but solid rate of return.
I am not trying to get rich fast, just want to be able to pay for the cubs to attend a college if they want or go into business for themselves if that is their choice.
A small boost out of the nest.
Reagan.
I blame Reagan.
Don’t forget nitrocellulose, but have you the recent prices? Ridiculous! Most of my inventory was acquired before the pandemic.
Loaded ammunition, in some calibers, is at historic lows *if* you measure in constant dollars.
I watch .22 LR, which is almost a commodity.
The prices, right now (purchased on the Internet, including shipping) are at historic lows.
Easy to purchase good quality .22 LR for about 7 Cents per round, which in constant dollars is close to the same at 4.5 Cents per round from 1993 - 2007.
https://ammoseek.com/ammo/22lr?sh=low
China put the kibosh on exports. There’s a $40 difference between Shanghai and Comex.
That’s never happened before.
Tulips come to mind.
That remains to be seen, but the falling in price for gold & ilver is in direct response as to who Trump has tageed to replace Jerome Powell at the Federal Reserve. Remember perceptions always play a factor in descion making process. Wall Street likes the pick, and investors see it as a move to strength the dollar, whch acounts for the drop in metals. His choice is the only thing that has happened to drive the change, that I see.
Profit taking and the current short call. Look for gold and silver to start back up in a week or so.
Someone must have spread a rumor that the IRS was actually going to do its job and audit people holding gold to see if they are reporting their capital gains. Gold is taxed like income short-term and like stocks long-term. The problem is that when people buy and sell physical gold in small quantities, brokers don’t report the transactions on Form 1099-B. They are on the “honor” system to report their gains.
People holding gold are either tax cheats or Chinese CCP officials. It’s a rock for fools.
Bankers printing worthless paper, claiming it has value, thereby tanking the market.
But remember, gold shall destroy the fed.
And silver has drawn first blood!
The money is being transferred from the criminal “pros” to normal, everyday Americans from whom the money has been stolen.
Did you see the current price of silver in Shanghai?
Hint: it’s 123 dollars and 21 cents.
https://goldsilver.ai/metal-prices/shanghai-silver-price
Huh?
Silver Price Performance USD
Change Amount %
Today +5.17 +6.80%
30 Days -0.73 -0.96%
6 Months +38.73 +103.87%
1 Year +44.42 +140.59%
5 Year +49.17 +183.12%
20 Years +66.25 +677.69%
silverprice.org - 20:12 NY Time
Gold Price Performance USD
Change Amount %
Today -144.38 -3.04%
30 Days +308.06 +6.94%
6 Months +1,376.17 +40.80%
1 Year +1,930.42 +68.48%
5 Year +2,914.98 +158.92%
20 Years +4,179.10 +733.03%
goldprice.org - 20:13 NY Time
I believe the forecast that says silver will maybe go down a little more but the coming days will see it climb again, and when it pushes through $121, it will go significantly higher.
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