Market On Open, Friday 30 January

Last updated on Jan 30, 2026

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Meltdown?

by Alex King, CEO, Cestrian Capital Research, Inc.

Everybody PANIC!! Gold right now is at a price not seen since … YESTERDAY! RUN!!!

Now this is because, pop quiz:

The new Fed chair is going to be ultra hawkish ergo inflation is going to be CRUSHED and so who needs gold? ($DXY is edging up by the way), and/or
The new Fed chair is a crypto-native and Bitcoin is the New Digital Gold (Bitcoin is down right now, although not down as much as gold), and/or
Gold had run up a lot and it is cooling off as some people scare themselves with how much money they have made quickly and don’t want to be left holding bags.

Personally I favor the third explanation, but who knows really.

Here’s how gold futures are looking right now - in short, in a shallow Wave 4 drop that is hovering around the .382 retracement of the prior Wave 3. This is normal correction territory for now and there is every possibility that a new all-time-high is just weeks away.

The market in general has been rather volatile all week - that’s to be expected given we’ve had an FOMC meeting and rate decision, a new Fed Chair announced, and the beginning of key Q4 2025 earnings reports. So far though, nothing in this morning’s price action signals much in the way of change to 2026YTD in my view.

Let’s get to work. But first, your last chance to sign up for our new SignalFlow AI Global service is upon us. Launch pricing ends tomorrow, 31 January so if you are interested, sign up today to lock in the current low prices for as long as you remain a subscriber. From 1 February, prices double.

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