Monday, Jan. 26, 2026…4:10 PM ET
[4:00 PM ET closing prices for stocks; 3:45ish for commodities and bonds.]
I woke up this morning to a desktop that didn’t work, and no chance to get tech support to see what the issue is yet.
So, obviously no video…plus, everyone around here has a snow day after the big storm. I did, however, manage to get out for beer.
All about gold and silver today. Silver surged the most since 2008 and gold roared past $5,000-an-ounce for the first time, extending a previous metals rally fueled by President Trump’s reshaping of international relations and investor flight from sovereign bonds and currencies.
The administration’s actions – attacks on the Fed, threats to annex Greenland, military intervention in Venezuela, Iran tensions – have spooked markets.
And gold is the ultimate hedge for geopolitical risk.
But swelling public debt in advanced economies has become another pillar for gold.
“People have become a lot more worried about the long-term debt trajectory over the past three years,” said John Reade, chief strategist at the World Gold Council.
As for silver, rising prices have spurred robust retail demand in key markets such as China and India, with investors increasingly turning to 1-kilogram silver bars. Chinese manufacturers have reportedly shifted production from silver jewelry to investment products to meet the surge in demand.
Meanwhile, aside from waiting on the Fed’s interest rate pronouncement on Wednesday and Chair Jerome Powell’s comments after, there were growing fears of a government shutdown as Senate Democrats vowed to block a major funding bill following the latest shooting in Minneapolis on Saturday.
Dow Jones +313 (0.6%)
S&P 500 +34 (0.5%)
Nasdaq +100 (0.4%)
Oil (West Texas Intermediate) $60.72…Nat Gas $6.60, up from $3.10 less than ten days ago.
Gold $5046
Silver $108.20…hit $117 this morning
Bitcoin $87,550 [4:00 PM ET]
U.S. 2-yr. 3.59%
U.S. 10-yr. 4.21%
Japanese 10-yr. 2.22%
Back with you tomorrow, one way or another.
Brian Trumbore
