Trump and Xi’s Phone Call: A Comedy of Gold and Silver Woes

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Ah, the theater of the absurd! The great stage of global finance trembled as the two titans, Trump and Xi, exchanged pleasantries over the wires. And lo, the markets, ever so sensitive to the whispers of power, reacted with the subtlety of a sledgehammer. Gold, that fickle mistress of safe havens, plummeted below the sacred $5,000 mark, as if the very earth had shrugged its shoulders in disdain.

In the annals of Twitter (or should we say, X?), the sage Mookie proclaimed the downfall of gold, attributing it to the golden-tongued Trump’s remarks. The market, ever the obedient servant, bowed to this decree, sending prices tumbling like a jester’s hat in a windstorm.

Gold’s Tragic Plunge: A Tale of Lost Momentum

Gold, once soaring at $5,080, found itself in a free fall, breaking through $5,040 with the grace of a fallen angel. By the time it reached $4,946.53, it was but a shadow of its former self, a mere 0.01% decline, yet a psychological blow of epic proportions. The buyers, those fleeting lovers of opportunity, showed a momentary interest at $4,920-$4,940, but alas, it was too little, too late.

And what of Trump, the maestro of this financial opera? He, with his golden tweets, declared a “very positive” call with Xi Jinping, discussing trade, military, energy, agriculture, and aviation. Ah, the sweet nothings of diplomacy! The market, ever the drama queen, responded with a sell-off so severe, it made the fall of Rome look like a minor hiccup.

Silver‘s Catastrophic Collapse: A Precious Metal’s Lament

But gold was not alone in its misery. Silver, that poor cousin of the precious metals, suffered a fate even more tragic. According to the oracles at ZeroHedge, silver plummeted by nearly 20% when China’s markets opened, trading at a paltry $77.26. From its peak of $90, it fell with the speed of a guillotine, slicing through $85, $82, and $80 with barely a pause.

Weeks of profits were wiped out in a blink, as if the market had decided to play a cruel joke. The consolidation range of $85-$90, once a fortress, crumbled like a sandcastle in a storm. And yet, the bigger picture revealed a symphony of decline, with gold and Bitcoin joining the chorus of woe. It was not a solitary tragedy, but a grand inter-asset ballet of despair.

Gold’s Wider Investing Trend: A Bull in a Volatile China Shop

As the data from Trading Economics revealed, gold traded at $4,880 per troy ounce, a decline of $85.2, or 1.72%. This pullback followed a multi-month rally that had seen gold rise from $2,900-$3,000 to record highs near $5,500. But fear not, for the long-term pattern remains bullish, suggesting a mere volatility reset rather than a trend’s demise.

Gold’s journey has been one of gradual ascent, from $3,300 to $3,500, then a rapid surge above $4,000. By the end of the year, it had broken through $4,500, soaring to $5,400-$5,500 in early 2026. The recent fall, though dramatic, was but a rejection of these lofty heights. Yet, the overall trend remains positive, with higher highs and higher lows characterizing the past year.

The decline to $4,880 has returned gold to its late-2025 consolidation range, a mere reset of volatility rather than a change in direction. However, the market’s sensitivity to political headlines remains high, and further volatility hinges on the ability of $4,800 to hold. Will it? Only the shadows of the Kremlin and the whispers of Wall Street know for sure.

And so, dear reader, we leave you with this tale of gold and silver, of Trump and Xi, of markets and mayhem. In the grand theater of finance, the show must go on, and we are but spectators, laughing and crying at the absurdity of it all.

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2026-02-06 00:58