$XAU Madness: Record Highs, Historic Crash $XAG
The precious metals market just went off the charts. On January 29, Silver $XAG soared to $121.62/oz, briefly making it the world’s 2nd largest asset after Gold ($XAU). But the celebration didn’t last—the next day, prices plunged 35%, the worst crash since 1980, with futures dropping 31% at settlement.
XAGUSDT
Perp
78.23
+1.03%
Current status: $85–90/oz, still up 140% YoY.
What triggered the crash?Donald Trump’s nomination of Kevin Warsh as Fed Chair caused the US Dollar to surge, triggering a massive Long Squeeze across leveraged positions.
Why Silver remains strong: Supply deficit 5th year in a row of physical shortages. Exploding industrial demand Solar, Chips, EVs, AI sectors driving growth. China tightening exports Limiting silver supply to the global market.
