Spot Gold and Silver See V-shaped Rebound, with Gold Registering a Daily Volatility of Over $500

BlockBeats News, January 30th, according to Bitget market data, spot gold and silver saw a V-shaped reversal, with gold experiencing a single-day price swing of over $500. Spot gold broke through the round number support levels last night, falling from $5550 per ounce to a low of $5155 per ounce. This morning, Trump once again declared a national emergency, imposed tariffs on oil-exporting countries to Cuba, combined with concerns about a potential US-Iran conflict, escalating geopolitical tensions. Spot gold rose to $5450 per ounce this morning, recovering about $350 of the earlier decline.

Spot silver fell from $121 per ounce to $106 per ounce this morning, and has since rebounded to $117.5 per ounce, with a 24-hour gain of 1.7%.