BlockBeats news: On January 30, after a series of sharp rises, the precious metals market suddenly hit a rapid slowdown. Gold prices quickly dropped from above $5,600 per ounce, falling below $5,200 in Asian trading at one point, with a single-day decline exceeding $100; silver also fell in tandem. This correction coincided with a sell-off in U.S. stocks and a rebound in the U.S. dollar from its recent low.
Saxo Bank analysts warned that the rapid rise in gold and silver prices has entered a high-risk phase, with increased volatility potentially leading to a contraction in liquidity. Nevertheless, gold prices have still risen by about 20% this year and are on track for the largest monthly gain since 1980.
Silver prices surged above $120 per ounce at one point on Thursday before giving back some gains. Following an impressive rebound in 2025, this precious metal has risen by about 50% so far this year. Earlier this month, JPMorgan analysts noted, "Although silver prices have already far exceeded our forecast average, it is nearly impossible to 'call the top' when the market is showing almost parabolic price momentum."