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Posted on 01/30/2026 6:17:38 AM PST by Presbyterian Reporter
Gold and silver prices plunged on Friday, as President Donald Trump’s nomination for the next chair of the Federal Reserve, Kevin Warsh, appeared to relieve concerns about the central bank’s independence.
By 7:12 a.m. ET, spot silver was down 10.6% to settle at around $103.81 an ounce, paring back earlier losses. In the early hours of the morning, the metal had plummeted as much as 16% and dipped below the $100 milestone.
(Excerpt) Read more at cnbc.com ...
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Pretty much as usual, mainstream media comes up with an unrelated reason for a big price move in gold or silver.
Media ignores---
1. First Notice Day for Comex Feb26 gold futures is today.
2. Gold and silver have made major moves and there comes a point when the folks who were short the gold and silver have already taken their losses by buying their way out.
A bad day for gold and silver is a good day for America.
Yeah, well.....it’s CNBC. They sell programming, not reality.
‘Tis but a flesh wound.
I was saying to my wife, “Silver is down to $100.” Then I started laughing. “It’s still $100 frickin’ dollars!”
Context is important.
No, a Good Day for America is when the last illegal is finally ousted and the door firmly locked behind him/her. :)
I remember Dad practically doing handstands when silver hit $30/oz!
Wish he were still here to see this! :)
“A bad day for gold and silver is a good day for America.”
$$$$$$$$$$$$$$$$$$$$$$$
Totally agree. Money should be invested into opportunities that circulate and build the economy, not hoarded into bright and shiny objects like some kind of Bond villain would.
Not getting the logic - maybe someone can educate me.
If he’s picked to do Trump’s bidding and keeps interest rates arrificially low, the ensuing dollar devauation/inflation with only push metals up.
*Nobody can do much for the dollar at this point. Math proves we can’t even keep up with interest payments without significant printing or borrowing.
The ensuing spiral is out of anyone’s hands.
Is the Fed going to stop ’printing’ money?
No.
Is the government going to stop borrowing money?
No.
Is the government going to stop spending money?
No.
Is the government going to reduce the deficit?
No.
I’ll stick with gold and silver.
Your statement reflects a lack of understanding of what Money is versus what a dollar is.
Money is silver and gold, an asset.
A dollar is a derivative of money, it is a debt.
Derivatives can have their own derivatives. As a stock is a derivative of dollars which is a derivative of gold/silver.
Paper gold is a derivative of physical gold.
You made my point.
Do you think Trump can snap his fingers and all of that will be reversed?
A Gold Bubble is heavy , man ,LOL
“””Not getting the logic - maybe someone can educate me.”””
Gold and Silver peaked at about 9am yesterday (Jan 29,2026).
Trump announced his pick for Fed chair this morning.
So I am with you, I do not understand the logic of how the Fed pick had an impact on trading that began yesterday.
And I agree that if the new Fed chair reduces interest rates that will encourage people to buy more gold and silver.
>> Money should be invested into opportunities that circulate and build the economy, not hoarded into bright and shiny objects like some kind of Bond villain would.
“Sil-ver bubbles
In the wine
Make me happy
Make me feel fine...”
:-)
Trump referred to Kevin Warsh as "Central Casting". I believe there is great meaning behind that label, so I'm very optimistic to see how things unfold.
Warsh is more pro dollar than the rest of the picks, and more hawkish on inflation. Warsh hit the news blurbs last night. Forex and pm went lower on such news.
Trump is a Sun Tzu follower. Just because he picks a pro-dollar Warsh doesn’t mean Trump is pro-FED, pro-printing, anti-physical.
Indeed, Trump is all about taking Deep Staters, and rubbing their noses in their own feces, for all of us to see and watch in realtime.
Warsh is the best pick of the possible candidates. He’s the least of the money printers. The Fed can’t control what congress and potus on their massive spending problems. Nothing is more deep state than destroying the dollar and increasing the national debt.
Still wanna know what’s in Ft. Knox
“Yeah, well.....it’s CNBC. They sell programming, not reality.”
They report news and real data.
More of that is needed in our world
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