Market Update: "Black Friday" Sell-off (Jan 30-31, 2026)
Gold prices plummeted 9% in a sharp correction, dropping from a peak of nearly $5,600 to below $4,900/ounce.
Reason ? -> President Trump’s nomination of Kevin Warsh (a known policy "hawk") as the next Fed Chair. This sparked renewed expectations of higher-for-longer interest rates, triggering massive profit-taking and a surging US Dollar.
While the market panicked, SPDR Gold Shares (GLD) quietly accumulated an additional 0.6 tons of gold during the dip.
SPDR’s total holdings have now hit 1,087 tons—the highest level in 5 years—bringing the fund’s total value to approximately $180 billion.
👉 Conclusion: While retail investors flee due to short-term news and volatility, institutional giants are using this correction to build positions for the long-term de-dollarization trend.
