Khaberni - Gold prices in Friday's session, dated January 30, 2026, experienced a sharp drop described as a "financial earthquake" that wiped out all the recent record gains, with the ounce losing $261.74 in a single session, plunging the price to $5,093.06 for April contracts, representing a 4.89% loss.
Investors were stunned after experiencing violent "roller-coaster" fluctuations; the precious metal soared at the beginning of the session to a peak of $5,480.05, before exploding in what analysts described as a "hysterical profit-taking bubble", leading to a vertical collapse that hit the session's bottom at $4,969.56, with gold now trading far from its historic peak ($5,625) by a margin of $532, entering a phase of "sharp correction".
Financial data at the peak of volatility at 16:17 Mecca time showed that the market witnessed "forced liquidation" of buy positions and a scramble to exit by margin traders, weakening the "price immunity" of psychological barriers, especially after the momentary breach of the $5,000 mark, which constitutes a stern warning about the fragility of support at these levels.
In comments from experts on this breakdown, it was described as a "cleansing" operation of the market from speculators, where gold lost in one day what it had gathered over an entire week. Traders anxiously await this day's weekly close; stability above the $5,100 level is considered the "last hope" to avoid a deeper descent that may target the $4,800 levels with the opening of next week's trading.
