1.14.26 - Silver Hits $90 - Consumers Struggle - Stablecoins Frozen

1.14.26 - Silver Hits $90 - Consumers Struggle - Stablecoins Frozen

Gold last traded at $4,631 an ounce. Silver at $93.14 an ounce.

Silver Hits Record Above $90 as Precious Metals Rally Powers On -Yahoo! Finance

(Bloomberg) -- Silver broke above $90 an ounce for the first time and gold flirted with a record high as attacks on the Federal Reserve, the prospect of more US rate cuts and a tense geopolitical backdrop added impetus to a blistering rally in precious metals.

The white metal jumped as much as 5.3% to touch $91.5535 an ounce, while gold was within $10 of an all-time peak. Underlying US inflation in December wasn't as high as feared, but economists said the data was artificially depressed by the record-long government shutdown. The Fed is expected to pause rate cuts for several months, but swaps markets are pricing in at least two more later in the year.

Precious metals are off to strong starts this year, building on dramatic rallies in 2025, with the prospect of a criminal indictment against Federal Reserve Chair Jerome Powell reviving worries about the monetary authority's independence. Central bankers across the world have rallied behind Powell and JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the move could backfire.