The Precious Metals Crisis That Could Trigger A Global Financial Reckoning
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Friday, Oct 16, 2026 - 08:55 PM
Authored by Milan Adams via Preppgroup,

It ended, apparently, in the spring. Gold ran to a record in the last days of January 2026 - $5,608 an ounce on one spot reading, roughly $5,405 on the LBMA benchmark, and $5,318.40 on COMEX futures, three figures describing the same metal and differing by nearly $300, which is a reminder that the price depends on which price you mean - and then it simply stopped. By the middle of October the metal was changing hands near $4,112, some 27 per cent below the January spot peak, while silver, having briefly touched $121.62 on 29 January, had lost more than half its value and was trading around $56. Two metals, two collapses, and for anyone who had spent three years waiting for the precious metals complex to deflate and stop interrupting the serious business of equity markets, a comfortable conclusion was available: the thing had been a trade, the trade had unwound, and the world could return to its previous arrangements.

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