There's a lady who's sure all that glitters is gold and she's buying a stairway to Heaven
 -Led Zepplin

 Gold and silver dropped sharply on Friday with analyst siting that markets reacted to the news that President Donald Trump had selected Kevin Warsh to replace Jerome Powell as head of the Federal Reserve. However, that is only partially true.

Today’s astounding movement in Gold has traders either shaken out of their positions from the extreme low or too rattled by the volatility to buy into gold futures as it officially rolled over and switched contract months from the February (GCG2026) to April (GCJ2026). 

Gold futures exploded higher today, posting the largest single-day dollar gain ever recorded, surging an astonishing $231 per troy ounce to settle at a historic $5,447/oz. And the rally isn't stopping there: with gold now trading around the clock, futures resumed in Australia and continued their relentless climb.

Gold shattered records on Tuesday January 20th, and every day since then surging past multiple milestones and extending a powerful rally that has gained momentum throughout January. Today, gold futures crossed another threshold trading around $100 higher and touching prices above $5,180 at its heights.

Everyone has probably heard the Phrase, “give an inch, take a mile” usually in reference to a person taking advantage of a situation or deal to extract the highest amount of profit possible, often at the counter party’s expense. As you are reading this you might notice that this is beginning to sound like the setup a good trader is trained to seek out.

While gold flirted with a landmark price on Friday, silver stole the spotlight—crossing $100 per ounce for the first time ever.

Gold futures rebounded to a record above $4,940 per ounce on Thursday as markets recalibrated the balance between resilient US economic data and easing geopolitical risks, with investors finding renewed confidence in the yellow metal's trajectory despite a complex macroeconomic backdrop.

Gold futures underwent exceptional volatility on Wednesday as markets reacted to President Donald Trump's remarks at the World Economic Forum in Davos, Switzerland, with prices swinging more than $130 per ounce in a single trading session.

Gold surged past $4,700 an ounce on Tuesday while silver retreated from a fresh all-time high as President Donald Trump's push to acquire Greenland stoked fears of a potential U.S.–Europe trade war.

Gold posted its sharpest decline in over two weeks on Thursday as uncertainty surrounding the Federal Reserve's leadership dampened investor appetite for the precious metal, while silver suffered steep losses following Chinese regulatory intervention in futures markets.