"Even after Friday's fumble in the price of gold (and silver), the rush may have yet to conclude. With people reportedly lining up to buy gold bullion in various parts of the world (from Sydney to Singapore), it certainly feels like the latest implosion in the price of shiny metals is more of a buying opportunity than anything else. Of course, it certainly feels like the decline to cap off the month of January was a bit on the overblown side."
"Time will tell how long the so-called "Walsh Washout" lasts. Either way, the fragility in the price of gold has made for a more opportunistic climate for investors in February. As to whether this latest plunge is the start of a bear market move lower that begins to cut into the gains from last year remains the trillion-dollar question. Either way, I think there's nothing all too out of the ordinary with the painful 10% slump in gold prices."
"Yes, the 10% single-day drop, which has put the asset down just shy of 14% from its recent January 2026 peak, is a painful one. But gold is still up handsomely for 2026, up more than 7% since 2026 began. Even with the latest correction, gold is still up a ridiculous amount in a month. Even if volatility levels stay up, I'm inclined to think that the selling pressure on silver and other metals could act as a bit of a support for gold."
Gold experienced a sharp correction with a 10% single-day drop and a near-14% decline from its January 2026 peak. Buyers in locations such as Sydney and Singapore continue purchasing bullion, signaling ongoing demand and potential buying opportunities. Price fragility around the so-called "Walsh Washout" has created an opportunistic climate for investors in February. Gold remains up over 7% year-to-date despite the correction, while silver suffered a far larger intraday plunge near 30%. The correction reinforces bullish views on a potential multi-year run driven by debasement concerns, though investors should assess risks before accumulating bullion or mining stocks.
Read at 24/7 Wall St.
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