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Daily News Nuggets | Today’s top stories for gold and silver investors  

January 28th, 2026 

Gold Breaks $5,300 as Dollar Confidence Wobbles 

Gold surged past $5,300 per ounce for the first time Wednesday. The metal jumped to a record $5,311.31 amid growing unease about the U.S. dollar and questions around Federal Reserve independence. 

The move caps a blistering rally that saw prices climb more than 3% in the previous session alone. One week ago, we were around the $4,800 level. Investors are piling into the traditional safe haven as currency concerns intensify. 

What’s driving it? Weakening confidence in the dollar is sending capital fleeing into tangible assets. And uncertainty around the Fed’s autonomy is adding fuel — central bank independence has long been a cornerstone of dollar credibility. 

This isn’t just a gold story. It’s a signal that currency risk is moving from theoretical to tangible. When gold moves this fast, markets are telling you something about trust in the system itself. 

Fed Meets Today — What It Means for Gold and Silver 

The Federal Reserve kicks off its first policy meeting of 2026 today. Markets expect rates to hold steady at 3.5%-3.75% — a 97% probability. 

But here’s the disconnect. The Fed projected just one rate cut for all of 2026 at its December meeting. Markets aren’t buying it. Traders are pricing in two cuts, likely starting in June as unemployment rises. 

That gap matters for precious metals. Gold has already blown past major bank forecasts — just one month into the year. JP Morgan’s year-end target was $5,000. Bank of America has called for $5,000 before the end of the year. Gold is currently trading above $5,250. 

And there’s the wildcard: Fed independence concerns. The DOJ investigation of Powell and questions about central bank autonomy are driving safe-haven flows. When trust in institutions wobbles, gold and silver benefit. 

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