In this video: WARSH SHOCK: Silver Collapses 20% as New Fed Chair Nominated, Stocks Weak, Bitcoin Crushed. Video by Gareth Soloway.
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Silver prices experienced a volatile "flash crash" on January 30, 2026, plunging as much as 21% from a record high of $121.78 per ounce reached just 24 hours prior. By the morning of January 30, spot silver had fallen to approximately $98.80–$99.89 per ounce. Despite this sharp correction, silver remains up more than 60% since the start of January 2026.
Market Drivers for the Collapse
The sudden reversal followed a historic rally that saw silver surge nearly 75% earlier in the month. Key factors triggering the January 30 crash included:
-Federal Reserve Speculation: Reports that US President Donald Trump planned to nominate Kevin Warsh as the new Fed Chair spooked markets. Warsh is viewed as a "hawkish" candidate less likely to cut interest rates, which strengthened the US Dollar and weighed heavily on precious metals.
-Aggressive Profit-Taking: Following an "exponential" rise that left metals in overbought territory, investors began massive liquidations to lock in gains.
-Spillover from Tech Sector: A 12% crash in Microsoft shares following disappointing earnings added to global market volatility, triggering broader "risk-off" selling across commodities and equities.
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