Outrageous Predictions
Executive Summary: Outrageous Predictions 2026
Saxo Group
Neil Wilson
Investor Content Strategist
Summary: Note: This is marketing material. This article is not investment advice, capital is at risk.
Yesterday's incredible volatility in gold and silver continues this morning on Friday. Yesterday, gold had been shifting to the downside through the session after approaching a record high near $5,600 before selling really took off a little time after 3pm, generating liquidations and a momentum of its own, with prices tumbling about 8% in just a few minutes to a low of $5,023/oz, over 10% below the earlier all-time high. Prices stabilisedsomewhat and then moved above $5,300 within about 90 minutes of the flash crash. Moves in silver were even more exaggerated as prices tumbled 12%from a high above $121.67to $106.67 in short order before rallying back to $113 by 4:30pm.
The pressure is back on this morning. Gold tanked to $4,933 in early trading in London, touching a key Fib level support twice, before climbing back to around $5,130, while silver took a $103 handle after touching $95, where it found some near-term support. A lot speculative positioning to unwind and it could get quite nasty. We need to see what kind of damage this move has done – it may be the start of a more sober assessment by market participants about the reasons for being bullish on gold, silver etc.
For a detailed look at this week's moves in gold, silver, copper and oil, read Ole's Commodities Weekly.