Silver breaks through $121, gold monthly gains may hit best performance in 50 years

On January 29th (UTC+8), driven by economic and geopolitical uncertainty, investors flocked to safe haven assets, and gold continued its upward trend, expected to achieve its best monthly performance since 1973. Silver prices broke through $121, setting a new historical high. Brian Lan, Managing Director of GoldSilver Central, stated that the demand for gold continues to expand from cryptocurrency institutions to central banks around the world. Marex's Global Head of Market Analysis, Guy Wolf, pointed out that the silver, platinum, and palladium markets are relatively small and susceptible to speculative capital inflows, and prices may be disconnected from the fundamentals of real demand.