Gold and silver exchange-traded funds (ETFs) recorded sharp declines on January 22, 2026, as easing geopolitical tensions reduced investor demand for safe-haven assets. Silver ETFs fell by as much as 21 percent, while gold ETFs slipped up to 12 percent, reversing part of last year’s record rally.
Analysts noted that the correction followed announcements from Washington aimed at calming global markets, including the cancellation of planned tariffs on European allies and assurances that force would not be used to acquire Greenland. These developments shifted investor sentiment toward equities and risk assets.
Gold had surged nearly 65 percent in 2025 to record highs of around $4,300–$4,500 per ounce, while silver jumped more than 150 percent to about $80 per ounce. The latest downturn reflects profit-taking and a recalibration of portfolios as geopolitical risks ease.
Market experts cautioned that while the short-term outlook points to further volatility, long-term fundamentals such as central bank buying and industrial demand for silver could provide support for precious metals.
