🚨 FLASH CORRECTION in GOLD! End of the rally or just profit-taking? 📉💥 #GOLD #Oro
Attention traders! Gold has just suffered its most brutal drop in years: from record highs above $5,600/oz (historic peak yesterday) to temporarily piercing $5,000 today, Friday, January 30, 2026. Spot gold is now around ~$4,900–$5,100 (dropped up to -8-9% intraday), and silver ( $XAG ) took the worst hit with drops of 15-18% 😱.
Trump nominated Kevin Warsh as the next Chair of the Fed (to replace Powell in May). Warsh is a former Fed governor, conservative, advocate for central bank independence, and less "dovish" than other rumored candidates.
This calmed fears of a Fed "captured" by Trump (with ultra-aggressive cuts to finance massive debt/deficit). Result:
DXY (dollar) rebounded strongly (~0.4-1% today), breaking the weakness that was driving the "debasement trade".
A stronger dollar makes gold more expensive for foreign buyers → less immediate demand.
Real rates rose a bit → extra pressure on gold (it does not pay interest).
Massive profit-taking after +25-30% only in January (the best historical month for gold in decades). Liquidations in leveraged futures and crypto-metals (like $PAXG ) amplified the flash drop.
Is this the end of the bull market?
I DO NOT think so. Bullish fundamentals intact:
Record purchases by central banks
Tense geopolitics (Iran, etc.)
Explosive U.S. debt and dedollarization
This seems like a healthy correction after a parabolic rise. Key support now at $4,800–$5,000. If DXY stabilizes above 96-97, more temporary bearish volatility; but if the dollar falls again, the rally could resume towards $6,000+ (many analysts see it possible in 2026).
What do you think? Are you buying the dip at #XAUUSD or waiting for more correction? Any trades in futures or spot? Share charts and levels 👇