A jeweller shows gold and silver bars at his shop in downtown Kuwait City on Jan. 12, 2026.
Yasser Al-zayyat | Afp | Getty Images
Gold and silver prices fell Friday, after hitting record highs a day earlier, as investors book profits after a record-breaking rally this year.
Spot gold prices declined over 4% to $5,156.64 per ounce. The yellow metal remained around 20% higher year to date.
“A correction back to $5000 with some consolidation around that price would be a normal pattern in a bull market,” Ed Yardeni, president of Yardeni Research, told CNBC. “The surprise is that it went from $3,000 to $5,500 without any significant correction … So far this has been more of a melt-up than a traditional bull market in the precious metals.”
Silver prices fell over 5% to $110.26 per ounce. Year-to-date, the white metal’s price is still 53% higher.
Meanwhile, Asia-Pacific markets traded mixed after U.S. President Donald Trump said that he will announce his choice for the next Federal Reserve chair on Friday.
Speaking at the premiere of Melania, a film about first lady Melania Trump, he said the five-month search to replace current chair Jerome Powell was nearing its conclusion.
The process for selecting Powell’s replacement began in September with an 11-candidate field that included past and current Fed officials, economists, and Wall Street investment professionals.
South Korea’s Kospi advanced 1.23% while the small-cap Kosdaq added 0.99%. Japan’s Nikkei 225 was 0.25% higher, and the Topix added 0.58%.
Australia’s S&P/ASX 200 rose 0.23%.
Hong Kong’s Hang Seng index slid 0.71%, while the mainland CSI 300 was down 0.51%.
Futures tied to the S&P 500 were down 0.16%, as were Nasdaq 100 futures. Dow futures fell 112 points, or about 0.2%. Trump also endorsed a Senate deal to fund the vast majority of the federal government through the remainder of the fiscal year, easing near-term political uncertainty for investors.
Senators clinched a deal with just over a day until a partial government shutdown. They agreed to remove funding for the Department of Homeland Security from the package and pass the other five bills, while DHS will be funded by a stopgap.
Overnight in the U.S., the S&P 500 fell, bogged down by Microsoft, as traders reacted to the megacap technology company’s latest earnings results and the Federal Reserve’s interest rate decision.
The broad market index slipped 0.13% to close at 6,969.01, while the Nasdaq Composite declined 0.72% to end at 23,685.12. The Dow Jones Industrial Average advanced 0.11%, or 55.96 points, and settled at 49,071.56. In cryptocurrencies, bitcoin shed more than 5% and hit its lowest level in almost two months.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
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