Posted on 01/28/2026 12:42:53 PM PST by Presbyterian Reporter
(Kitco News) - Gold and silver prices are strongly higher in afternoon trading Wednesday, with gold leading the way this time, powering to an all-time high of $5,360.60, basis April Comex futures, as of this writing, and scoring the largest daily price gains ever, in dollar terms. The precious metals are supported by safe-haven demand as the U.S. dollar wobbles on the foreign exchange market. April gold was last up $197.20 at $5,317.20. March silver prices were up $5.59 at $111.52.
Gold and silver markets have shown no significant price reactions in the immediate aftermath of the Federal Reserve’s two-day Open Market Committee (FOMC) meeting that began Tuesday morning ended this afternoon with the Fed keeping U.S. interest rates steady, at 3.5% to 3.75%, as expected, and after three successive quarter-point rate cuts. The FOMC statement said the U.S. unemployment rate has stabilized and that the U.S. economy has expanded at a solid pace. However, the statement said U.S. jobs gains have been low and inflation remains somewhat elevated. Traders are now awaiting Fed Chairman Powell’s remarks at his press conference, which will be closely parsed by the marketplace for any clues regarding the trajectory of monetary policy in the coming months, including Fed officials’ further comments on inflation.
CME Group is raising margins on Comex silver futures after prices surged to a record high this week. Margins will rise to 11% of so-called notional from the current 9% for non-heightened risk profile, the exchange said in a statement on Tuesday. The heightened risk profile margins will be raised to 12.1% from the current 9.9%, it said. Platinum and palladium futures’ margin also will be hiked. The change takes effect from Wednesday’s close and follows a “normal review of market volatility to ensure adequate collateral coverage,” the CME said.
I may sell my gold tooth.
“”””I may sell my gold tooth.”””
Be careful about advertising you have a gold tooth.
Someone may mug you and pull it out.
I may sell my gold tooth.
Do you see how they roll?
.
Excuse me, but if it takes more dollars to buy gold; how is it gaining?
What it really means is the dollar does not suck as much as other currencies.
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