#goldsilverrally The precious metals market is currently in a period of extreme volatility following a historic rally in January 2026, where gold surged over 24% (peaking near $5,600/oz) and silver skyrocketed 60% (briefly hitting $122/oz). This explosive move was driven by aggressive central bank buying (especially from China), geopolitical fears involving US-Iran tensions, and a supply crunch in silver due to AI and green energy demand. However, February has seen a sharp correction—gold retreating to roughly $5,000 and silver to $80—triggered by profit-taking and the nomination of Kevin Warsh as Fed Chair, which signaled a stronger dollar and tighter monetary policy. Despite this short-term pullback, the long-term outlook remains bullish as structural drivers like US fiscal deficits and industrial silver shortages remain unresolved.