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Jakarta. International and domestic gold prices fell sharply at the end of January as shifting expectations around the US Federal Reserve and a rebound in equity markets prompted investors to rotate out of safe-haven assets
Spot gold plunged 8.15% to $4,893.20 (Rp 82,076,090) per ounce on Saturday, while silver suffered an even steeper drop, sliding 25.5% to $85.34 per ounce. The selloff marked a sharp reversal after a year-long rally in precious metals driven by geopolitical risks, inflation concerns, and demand for defensive assets.

In Indonesia, local benchmark prices mirrored the global slump. Gold bars produced by state-owned miner Aneka Tambang, widely used as a retail investment reference, fell sharply on Saturday. Antam gold prices dropped Rp 260,000 per gram to Rp 2.86 million, down from Rp 3.12 million previously. The decline pulled prices further away from their record high of Rp 3.168 million per gram, reached just two days earlier on Jan. 29.

Kitco News) – It was the best of weeks, it was the worst of weeks, as the gold market performed like a meme stock, blowing through unprecedented price levels on its way to $5,600 before stalling and crashing further and faster than at any time in recent memory – but finishing down less than 2% all told.

Spot gold kicked off the week trading at $5,021.97, and the early sessions saw very little drama, with gold trading in a $60 range up to $5,100, with a brief dip down to test support at $5,000 per ounce shortly after Monday’s North American equity close.

The yellow metal first began to see real momentum on Tuesday afternoon, the spot gold breaking above $5,100 just before 3:00 p.m. Eastern before rocketing all the way to $5,185 by 4:30 p.m. The Asian session kicked off with spot gold trading at $5,170 per ounce, but the bull run was officially underway now, with gold rising to the very edge of $5,300 per ounce by 3:15 a.m. EST.
per ounce... by 3:30 it had reached $5,384. After a slight dip down into the equity close, gold rocketed higher once again, blowing through $5,500 like it wasn't there to hit $5,531 per ounce by 6:30 p.m.

Now the volatility began, as gold prices set what proved to be the new all-time high of $5,600 just before midnight before dipping back down to $5,483 by 3:30 a.m. EST Thursday morning. After a second bounce at this level just before 6:00 a.m., gold prices made one final push to reclaim the recent highs just before the North American open.

It didn't work, and the failure was as swift as it was spectacular. Spot gold fell from $5,544 per ounce at 9:15 a.m. Eastern all the way to $5,124 per ounce by 10:30 a.m.

The bounce was nearly as violent as the fall, however, with gold trading near $5,300 once again by 11:15, before hitting $5,370 by 12:30 p.m., and ultimately topping out just shy of $5,450 per ounce at 7:00 p.m.

A casual swim off Sardinia turned into something remarkable. Near Arzachena, a diver spotted metal glinting faintly on the seabed. Curiosity sparked immediately. Authorities were alerted. What they found was astounding: thousands of fourth-century bronze coins, reportedly between 30,000 and 50,000 pieces, many remarkably well-preserved despite centuries underwater.
The coins lay scattered on sand between the beach and underwater seagrass. Small fragments of amphorae rested nearby. Some might have come from Africa, others from Asia. This stretch of coast was a busy trade route in late Roman times, bustling with merchants, ships, and goods. For a moment, the past was visible, resting quietly under the calm, blue Mediterranean waters.
The treasure found in the waters off Arzachena represents one of the most important coin discoveries in recent years,” said Luigi La Rocca, general director of Archaeology, Fine Arts and Landscape at Italy’s Ministry of Culture. Experts say finds like this tell stories beyond collectors’ shelves. They capture moments in the economy, politics, and daily life of the Roman world. A snapshot of trade, rulers, and reforms that shaped ordinary people’s lives.

It’s more than old coins. It’s a tiny, detailed window into history. The stash sits off Sardinia’s northeastern shore, near modern Arzachena. The seabed forms a shallow platform. Currents spread objects without burying them too deeply. Investigators mapped two main zones in sand, bordered by dense seagrass. That boundary is important. Plant roots hold sediment in place, while coins and ceramic fragments peek through. Amphora fragments hint at commercial movement. Some from North Africa, others from eastern provinces. Merchants apparently mixed goods from different routes on a single voyage

After more than doubling since the start of 2025, gold prices surged another 27% in the first month of 2026 alone.

With gold now trading above $5,500 per ounce, central bank gold reserves are worth far more than at any point in the past several decades.

This visualization highlights how much the world’s largest gold holders now control in dollar terms. The data for this visualization comes from the World Gold Counc
il.

Elon Musk dropped four words that captured a seismic shift years in the making. "The balance of power is changing," he wrote, sharing IMF data that placed India ahead of the United States in contributions to global economic growth for 2026. The numbers tell the story bluntly. India accounts for 17% of projected worldwide expansion. America sits at 9.9%. Only China ranks higher at 26.6%, meaning the two Asian economies now drive 43.6% of global GDP growth between them.
The Tesla chief's comment wasn't random. He's been tracking India's trajectory closely—meeting Prime Minister Narendra Modi twice in recent months, scouting factory locations, and watching his Shanghai playbook potentially repeat in a market of 1.4 billion people.

But this goes beyond business calculus. Musk highlighted how India and China are emerging as driving forces of global economic growth at exactly the moment his own companies are navigating slowing sales in traditional Western markets. Tesla's China momentum has cooled. Europe's stuck in regulatory tangles. India's 6.3% growth rate—revised upward by the IMF—offers an obvious target.

Silver rates in India crashed significantly, sending a shockwave towards metal stocks and commodity market on January 30. 1Kg silver dropped for the first time in five days, with price pulling back from Rs 4 lakh mark. However, in cities like Chennai, Hyderabad and Kerala, silver is still priced above Rs 4 lakh per 1Kg. The reason behind the latest sharp downfall in silver is due to profit booking and substantial rebound in dollar.

1Kg silver price tumbled by Rs 15,000 to Rs 3,95,000 on January 30, while 100 grams and 10 grams silver dipped by Rs 1,500 and Rs 150 to Rs 39,500 and Rs 3,950 respectively. Despite the latest decline, silver rates are still on the path to give more than 65% returns in January 2026.

Read more at: https://www.goodreturns.in/news/silver-rates-fall-first-time-in-5-days-silver-prices-chennai-hyderabad-kerala-above-rs-4-lakh-jan-30-1485355.html

This is a major signal the market shouldn't ignore.

Reports indicate Russia has already sold roughly 70%+ of the gold held in its

National Wealth Fund, with reserves dropping from 500+ tons to around 170-180 tons.

This gold wasn't sold for optimization.

It was sold for survival.

WHY THIS MATTERS Gold is the last financial shield for any sanction nation. When a country starts liquidating it: Fiscal pressure is real

Sanctions are biting harder

Budget gaps are widening

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Long-term currency risk increases

Once gold buffers thin out, governments are left with fewer tools to def inflation and stability.

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GLOBAL IMPLICATIONS Additional gold supply hitting markets

Increased volatility in precious metals

Confirms war is being fought financially, not just militarily

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This isn't strength.

This is resource depletion under pressure