Gold futures underwent exceptional volatility on Wednesday as markets reacted to President Donald Trump's remarks at the World Economic Forum in Davos, Switzerland, with prices swinging more than $130 per ounce in a single trading session.

Gold surged past $4,700 an ounce on Tuesday while silver retreated from a fresh all-time high as President Donald Trump's push to acquire Greenland stoked fears of a potential U.S.–Europe trade war.

Gold posted its sharpest decline in over two weeks on Thursday as uncertainty surrounding the Federal Reserve's leadership dampened investor appetite for the precious metal, while silver suffered steep losses following Chinese regulatory intervention in futures markets.

Gold and silver futures pulled back Thursday after both metals reached record highs in the prior session, this as easing geopolitical tensions and profit-taking combined to cool safe-haven demand.

Global metals prices extended their searing rally Wednesday, with gold, silver, and copper all hitting all-time highs amid a surge in demand tied to geopolitical risks, currency debasement, and industrial demand.

Precious metals pull back after bullion's historic surge past $4,600, though geopolitical turmoil and tariff threats keep bullish sentiment intact

Gold and silver have achieved new record highs for the first time in 2026, reflecting mounting concerns over institutional independence and geopolitical stability. In spot market trading, gold reached $4,630 per ounce while silver touched $86.24 per ounce before retreating to $4,594 and $84.90 respectively by the time of writing.

Gold and silver posted substantial weekly gains, marking the fifth positive week out of the last seven for gold and the sixth for silver. The precious metals complex demonstrated remarkable strength, driven by a confluence of geopolitical instability and shifting expectations regarding Federal Reserve monetary policy.

Gold demonstrated notable resilience during Thursday's trading session, recovering from an intraday low of $4,415 to close at $4,487, marking a $20.80 gain. The recovery underscored the yellow metal's ability to maintain its footing near historically elevated levels, even as broader market dynamics suggest increasing uncertainty ahead.

As 2025 enters into our memories and the record books, silver markets have been experiencing an extraordinary, forced liquidation event that is rapidly evolving into what many analysts are calling a fundamental restructuring of global precious metals markets. Spot prices plummeted -10% during a single session during the final week of December.