Mon, 02 Feb 2026

Mon, 02 Feb 2026 Gold and silver prices fall but FTSE 100 hits record high

Precious metal prices hit record highs in January as investors parked their money in "safe havens".

* Gold and silver prices have fallen significantly, with gold dropping over 9% on Friday and silver plummeting 27% before recovering slightly.
* The price of gold is now down 4.6% at $4,659.16 an ounce, while silver has dropped 7.63% to $78.70.
* Analysts attribute the decline in prices to changes in trading requirements on a major exchange and the nomination of Kevin Warsh to lead the US Federal Reserve.
* The rise in the value of the US dollar is also contributing to the fall in commodity prices, including gold and silver.
* Despite the sharp falls, the price of gold has only fallen back to where it was a couple of weeks ago and remains about 70% higher than it was at the same point last year.
* Other markets are also experiencing losses, with Asian stocks falling by up to 5%, US stock markets dipping slightly, and crude oil prices dropping nearly 5%.
* The price of Bitcoin has also fallen, down below $75,000, as investors pull back from risky assets and progress on US cryptocurrency legislation stalls.
  >>