Metals - Silver prices surged, with March Silver (SIH26) increasing by $5.82 (6.6%) to a new high of $94.365, while the Cash Silver Index rose to $94.08 due to tight supplies and strong demand [1] - Gold also saw significant gains, with the Cash Index (GCY00) reaching $4,690, up $93.62 (2.0%), and February futures hitting $4,698, an increase of $102.60 (2.2%) [1] Equities - Global equity markets faced pressure, with the S&P 500 Index ($INX) completing a bearish key reversal, indicating a potential downtrend [3] - The March S&P 500 futures contract fell by 79.00 (1.1%) to 6,897.75, while the March Nasdaq contract decreased by 402 (1.6%) [3] - Asian markets mostly closed lower, except for China's Shanghai Composite, which gained 12.09 (0.3%), while European markets were also down, with the UK's FTSE 100 losing 47.0 (0.5%) [3] Energies - The Energies sector led the commodity complex with a 2.8% gain, although WTI crude oil dropped by $0.74 (1.2%) and RBOB gasoline fell by 1.8 cents (1.0%) [4] - Natural gas (NGG26) experienced a significant increase, rising by 44.7 cents (14.4%) and remaining 39.9 cents (12.9%) higher, driven by forecasts of severe winter weather affecting energy infrastructure in Texas [4]
What Drove Gold and Silver to Record Highs This Weekend?
Yahoo Finance·2026-01-19 12:50