AI Summary
The precious metal has surged more than 20% since the onset of January
Gold prices fell sharply on Friday, yet recorded their longest streak of monthly gains since September 2025, driven by heightened geopolitical, economic, and trade risks.
February gold futures plunged 11.37%, or $604.5, to $4,713.90 per ounce, posting a weekly loss of 5.33%.
However, gold futures gained around 9% in January, marking their largest monthly increase since February 2008, and extending gains for the sixth consecutive month.
As for silver, February futures slid 31.35% to $78.29 per ounce, falling 22.5% over the week. Despite the sharp decline, silver surged 11.36% in January, recording gains for the ninth consecutive month — the longest streak on record.
The pullback in precious metals during today’s session was driven by profit-taking pressures after gold reached a record high near $5,600 per ounce, alongside a stronger US dollar and investors reassessing the outlook for US monetary policy.
US President Donald Trump announced the nomination of Kevin Warsh as Chair of the Federal Reserve. Warsh previously served as a member of the Board of Governors and is known for his hawkish stance on inflation, which bolstered expectations that he would preserve the central bank’s independence.
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