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Replies: 2,837 / Views: 92,616 |
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Pillar of the Community
 United States
5878 Posts |
Interesting news from a variety of sources: Quote: The primary catalyst for the crash was a sharp shift in US monetary policy expectations. Reports emerged that President Donald Trump intends to nominate former Federal Reserve Governor Kevin Warsh to replace Jerome Powell as the next Fed Chair. Warsh, known for his historically "hawkish" stance and calls for institutional "regime change" at the central bank, is viewed by markets as less likely to pursue aggressive interest rate cuts.
This speculation sent the US Dollar Index (DXY) rebounding sharply from its multi-year lows, making dollar-denominated assets like gold and silver significantly more expensive for international buyers. The sudden strength in the greenback effectively "popped" the overextended bubble in precious metals.
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Pillar of the Community
 United States
1987 Posts |
KITCO live chart: $80.73. . .13:17 ET
Edited by cptbilly 01/30/2026 1:17 pm
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Pillar of the Community
United States
3347 Posts |
My dealer stopped buying coins and sterling. Just .999.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
403 Posts |
I have several ebay auctions that end this weekend and now current bid is above spot. I'm curious to see if the winners will pay.
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Pillar of the Community
 United States
5878 Posts |
Below $80 now.
Coulda, woulda, shoulda sold at $110, I suppose. I've always been in it for the long haul, though, so no regrets.
Well, maybe a few regrets...
In other news, I'm just in shock at how quickly it's dropping. Weeks and weeks worth of steady increases wiped out in less than a day.
Edited by barryg 01/30/2026 1:29 pm
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Valued Member
United States
403 Posts |
If you try to access the APMEX web site right now you get put in a queue. I assume that means a lot of people are buying physical.
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Pillar of the Community
United States
1280 Posts |
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Pillar of the Community
United States
5839 Posts |
Feels like got struck by multiple lighting...!
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Pillar of the Community
 United States
5878 Posts |
Well, the good news is that my wife says that if silver drops back to $50 I can buy another 100 BU Morgan dollars, so I got that going for me... 
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Pillar of the Community
United States
2049 Posts |
$77  ....quick, everyone panic!
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Pillar of the Community
 United States
5878 Posts |
Edited by barryg 01/30/2026 1:41 pm
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Valued Member
United States
455 Posts |
Quote: The primary catalyst for the crash was a sharp shift in US monetary policy expectations. Reports emerged that President Donald Trump intends to nominate former Federal Reserve Governor Kevin Warsh to replace Jerome Powell as the next Fed Chair. Warsh, known for his historically "hawkish" stance and calls for institutional "regime change" at the central bank, is viewed by markets as less likely to pursue aggressive interest rate cuts.
This speculation sent the US Dollar Index (DXY) rebounding sharply from its multi-year lows, making dollar-denominated assets like gold and silver significantly more expensive for international buyers. The sudden strength in the greenback effectively "popped" the overextended bubble in precious metals. Well that's a relief, at least we know everything is above board and there's no shenanigans happening here. I wouldn't want to think any nefarious players were manipulating the market or anything.
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Moderator
 United States
190483 Posts |
What did I miss while I was away?  Quote: Actually, we can see support at $90 and another in the low $70's 
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Pillar of the Community
 United States
5878 Posts |
Quote:If you try to access the APMEX web site right now you get put in a queue. Just saw that. Strange times...
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Pillar of the Community
 United States
5878 Posts |
Quote: What did I miss while I was away? 
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Replies: 2,837 / Views: 92,616 |