Precious-metals

On January 29–31, 2026, gold lost 21% and silver lost 40% in the most violent precious metals selloff since 1980. This is a forensic account of what happened, why the Warsh nomination was the match rather than the fuel, and what the wreckage reveals about how modern commodity markets actually work.

Gold just had its best year since 1979, setting 53 all-time records and surging from $2,600 to $5,600 in thirteen months. This is not just a commodity story. It is a story about debt, distrust, and a quiet revolt against the dollar-dominated world order.