Why did gold and silver fall so sharply today?

Trump’s nomination of Kevin Warsh as Fed chair boosted the US dollar and lifted rate expectations. Safe-haven demand faded, and leveraged long positions unwound. That forced selling, tighter margins, and thin liquidity drove a fast move lower, with silver down 30% in its worst day since 1980, and gold also falling sharply.

What does this mean for Singapore investors?

USD strength raises local buying costs and can widen spreads. Brokers may tighten margins, increasing cash needs. Review trade size, use limit orders, and set stop-losses. For longer-term holders, consider staged entries and watch USD/SGD, yields, and liquidity as you assess gold prices today and silver prices today.

Are ETFs safer than holding bullion during volatility?

ETFs offer liquidity and ease of trading, but prices can deviate from net asset value during fast markets. Check bid-ask spreads, average daily volume, and currency exposure. Bullion avoids fund tracking risk but involves storage and dealer premiums. Choose based on your time horizon, costs, and execution needs.

Could prices rebound soon after such a large drop?

Rebounds are possible if forced deleveraging slows and the USD pulls back. Data surprises on growth or inflation, or calmer Fed messaging, can support metals. However, if the dollar and real yields rise further, pressure can persist. Use a plan with clear levels rather than trying to pick exact bottoms.

Global Market Insights

Gold, Silver Prices Tumble on Warsh Fed Pick, Worst Since 1980 – February 01

ByHuzaifa Zahoor February 1, 2026February 1, 2026

Gold silver prices tumbled on February 1 after Donald Trump named Kevin Warsh as his Federal Reserve pick, boosting the US dollar and sparking rapid deleveraging. Silver crashed 30%, its worst one-day drop since 1980, while gold fell sharply as safe-haven bets unwound. For Singapore investors, the USD surge and tighter margin conditions raise near-term risks across bullion, ETFs, and miners. We explain what drove the move, what to watch next, and how to position amid high volatility in gold prices today and silver prices today.