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Precious Metals: The Sky’s the Limit or Ready to Reset?
The cascade of risk-off events in the opening weeks of 2026 (i.e., Venezuela, Greenland, Iran, Fed probe, tariff threats) triggered investor alarm and a flood of money pouring into precious metals. Safe-haven momentum drove gold and silver prices to record highs of US$5,500/oz and $120/oz, respectively, in late January before both succumbed to a rapid correction. The sell-off can largely be attributed to i) the announcement of Kevin Warsh as the next Fed Chair nominee (widely seen as more hawkish than the other frontrunners); and ii) China hiking margin requirements and briefly halting trading in select gold and ... (full story)