A Manic Metals Friday. Manic Metals Report 01/23/2026

Another Day another Manic Meatal Friday with more  gold and silver record breakers. We are seeing strong momentum and optimism in the metals markets as strong growth numbers in the US and global demand is keeping the meals  on its upward historic trek .  President Trumps string growth policies and embracing the economy of the futures with AI and Crypto is helping this historic surge especially in silver where the Hunt Brothers must be smiling somewhere . As of late January 2026, silver has surged from $30 in early 2025 to nearly $100, driven by supply shortages and high demand from electrification and green technology. Triple-digit silver is now a reality, reflecting its growing importance and versatility. And as I said  at the time that once you took out that old Hunt Brother high that $100 an ounce silver was likely. The banks that controlled the silver market for 50 years have lost control.
The reason is that for the last five years, silver demand has significantly exceeded supply, with mine output stagnant or declining. Industrial uses—such as solar panels, electric vehicles (which use four times more wiring than standard cars), and sectors like AI, 5G, and semiconductors—are driving this surge. This trend reflects ongoing technological progress and economic growth.
China is  also playing a part as they control a big chunk of global silver refining capacity stepping up too, tightening export controls and underscoring silver’s status as a strategic critical mineral.
Inventory levels on exchanges are at record lows, while ETF inflows signal investor confidence is surging.
And with strong growth and moderating inflation the Fed will be shamed into cutting rates  that could ease dollar strength boosting metals buying power worldwide.
We have known that central bankers are stockpiling gold, and silver is catching the overflow as the gold-silver ratio tightens. Some experts are even predicting silver could reach $130–$150 if current trends persist, but my $100 call is close and right in front of us. I believe that $120 is highly probable, but some of the more wildly bullish calls might happen as well. It isn’t hype—it’s pure physics. Supply can’t keep up, demand keeps climbing, and all the uncertainty in the world is making metals more attractive than ever. Of course, there could be a black swan event that could change things, and the risk of massive price swings makes this still a risky trade, but so far it is playing out to the bullish silver script.
Of course, we must keep an eye on the yellow brick road because it’s paved in gold and gold continue to break records.   My long-standing bullish call on gold is paying off, with prices smashing through $4,800 and approaching $4,900 in January 2026.
This isn’t just about hedging against volatility; it’s a testament to gold’s resilience as the world’s ultimate haven but really gold getting back to historic norms after years of undervaluation. Gold is doing exactly what it should:  as  debt climbs, and central banks from China, India, Russia and beyond ramp up their buying sprees.
Looking ahead with cautious optimism, silver continues to show significant volatility, while gold remains a steady presence in the market. Many analysts are watching the $5,000 mark for gold, pointing to ongoing geopolitical tensions, potential changes in Federal Reserve policies, and renewed investor interest as key factors.
Honestly, $5,000 gold? It’s no longer a wild fantasy—it’s starting to look like a perfectly reasonable pit stop with prices already knocking on the door at $4,900. In this kind of environment, gold is the solid ground you want under your feet, while silver’s the wild rocket ship ready to blast off. Put them together, and you get a power duo for anyone aiming to keep their investments resilient, diversified, and maybe just a little bit dazzling!
The current metals rally signals strong confidence in the global economy, with rising copper, silver, and gold prices reflecting robust industrial growth, infrastructure upgrades, and booming innovation in sectors like AI and clean energy. Surging demand for metals, especially silver’s dual role in industry and as a safe-haven, highlights expanding manufacturing and resilient economic activity, while gold’s steady climb reassures investors about long-term stability. Overall, the surge in metals points to a bright economic outlook, fueled by manufacturing, technology, and energy investment, even as some risks persist.

And the best way to and the best way to stay warm and the best way to stay warm during this historic cold blast is staying inside and download the fox weather app to keep up on the latest market moving weather developments and stay tuned to the Fox Business Network because they are the only network in the world that’s invested in you at the same time you should get signed up for the Phil Flynn daily trade levels the periodic manic metals report as well as other special reports coming your way and the simplest thing to do is call me at 888 264-5665 or e-mail me at pflynn@pricegroup.com.