AGE Gold Commentary

AGE Gold Commentary is our regular report analyzing trends in precious metals and rare coins. We monitor domestic and international markets and extrapolate from our 30 years in metals to place current events into a hard asset perspective. View archives.

2/2/2026: Precious metals plunge on major profit-taking

Gold, silver, platinum, and palladium have all moved sharply lower in one of the biggest market corrections ever seen by precious metals.

Following record highs last Thursday, gold and silver began selling off in the Thursday New York session, marking one of the first meaningful profit-taking pullbacks of the record-breaking rally that began late last year.

Selling pressure accelerated during Asia trading late Thursday night, intensified through the London session in the early hours of Friday morning, and turned into a full-scale rout in the New York trading session Friday.

After hitting session lows, gold, silver, platinum, and palladium stabilized and rebounded modestly into Friday's market close.

Reopening from the weekend closure in Asia last night, the selloff continued into this morning's New York trading session, although volatility has begun to ease as more broad-based trading bottoms have started to form. Stability is slowly returning to market pricing.

In this AGE Gold Commentary, recorded Friday afternoon in the wake of the sharp selloff, we review the last two weeks of price action in gold, silver, platinum, and palladium.

We break down where each market peaked, the scale of Friday's decline, and how prices stabilized before rebounding into the close, giving you real-time insight into this critical turning point in the precious metals markets.

You can also view this video on the AGE YouTube channel, which includes a transcript.

Sincerely,

Dana Samuelson
President