Silver Reclaims $118 After The Whiplash, While Gold Grinds Toward $5,550

This is part of The Rio Times’ daily coverage of precious metals markets and Latin American financial markets.

Key Points

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• Silver pushed back to about $118 and retested $120, days after its violent drop toward $102.

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• Gold stayed firm near $5,549, keeping the rally intact even as intraday swings remain sharp.

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• Both charts still look parabolic-like, with extreme momentum and rising air-pocket risk.

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\nSilver spent the January 29 morning acting like a market that refuses to cool down. On the weekly view, silver was around $117.96 after printing a high near $120.44, while the same weekly range still shows the recent low near $101.98.
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\nThe metal is not trending smoothly. It is whipping between levels that used to define entire quarters. The daily view reinforced the same message.
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\nSilver was about $117.96, with the day’s range roughly $115.50 to $120.44. The 4-hour view showed silver near $117.92, slightly lower on the last candle. That small dip does not change the bigger point.
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\nThe metal is back near its peak after a brutal shakeout. Gold looked steadier, but it remains stretched. Gold was about $5,548.79 on the daily view, with the day’s range roughly $5,432.46 to $5,602.23.
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\nOn the 4-hour view, gold sat near $5,548.67, modestly lower in that candle. The weekly view still showed gold around $5,548.71, up strongly for the week.
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\nThe momentum gauges are now flashing late-stage heat. Silver’s weekly RSI was around 90.19, which is extreme by any normal standard. Gold’s daily RSI was around 91.51, also highly stretched.
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\nThese readings do not predict a top by themselves. They do warn that the next reversal can be sudden and deep. That is why “parabolic-like” fits as a description of slope and behavior.
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\nPrices are rising fast, but the path is unstable. Silver remains the clearest danger signal because it is smaller and more leverage-sensitive. A trader can be right on direction and still get forced out by volatility.
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\nJanuary 29 did not calm the market. It confirmed the new regime: strong trend, violent pullbacks, then fast recoveries. That is powerful, but it is also hazardous for anyone overextended.

Related coverage: Brazil’s Ibovespa | Brazil’s Morning Call

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