After experiencing a previous round of strong gains, on January 30, the international precious metals market encountered a &#34;big plunge,&#34; with international gold prices consecutively losing key integer levels, falling more than 11% in a single day. Silver prices saw a dramatic drop of 31.37%, marking the worst single-day performance since March 1980. From a weekly perspective, the significant drop on Friday erased all gains from the previous trading days, with international gold prices down a cumulative 4.71% and international silver prices down a cumulative 22.50%.
Domestic gold jewelry prices also plummeted, with some gold stores losing over 200 yuan in just two days. According to reports from Peninsula Urban Daily, on January 31, a staff member at a gold store in Hangzhou stated that the price of gold jewelry that day was 1498 yuan per gram, down from 1668 yuan on January 30 and 1704 yuan on January 29, a drop of over 200 yuan in two days, with a 30-gram gold bracelet losing more than 6000 yuan in price.
Additionally, according to reports from First Scene, on January 31, in Shenzhen, Guangdong, reporters witnessed crowds at various gold store counters in Shenzhen Shuibei, with citizens continuously selecting, weighing, and paying for gold. Currently, the gold price at Shenzhen Shuibei is 1262 yuan/gram, with a buyback price of 1081 yuan/gram.
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According to media reports, &#34;I feel like I've unexpectedly gained wealth.&#34; Recently, actress Bao Tianqi revealed that 13 years ago, while in college, she stored some silver in a bank safe deposit box, at that time about 4 yuan per gram, and she subsequently forgot about it.
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Recently, she found the key to the safe deposit box and went to the bank to withdraw it, only to be informed that the safe deposit box had expired and she needed to pay over 7,000 yuan. After signing the safe deposit box renewal contract, she will return in a week to open the box. Bao Tianqi stated, &#34;I'm not sure how much silver I have, but I really want to see it and open a blind box.&#34;
Bao Tianqi, born on August 17, 1992, in Beijing, is a Chinese mainland actress who graduated from the 2010 undergraduate class of Beijing Film Academy. In 2010, she made her acting debut in the TV series &#34;Dream of the Red Chamber,&#34; officially entering the entertainment industry. In 2014, she became well-known for her role as Qing Shui in the costume fantasy martial arts drama &#34;The Journey of Flower.&#34; In 2017, she played the role of Elder Ding Shui in the fantasy costume romance drama &#34;Drunk Linglong.&#34;
Many netizens expressed: waiting for a silver bar unboxing follow-up.
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Silver prices have surged by approximately 264% over the past year, and January of this year also saw a strong upward trend. Spot silver once broke through 100 USD/ounce, reaching 121 USD/ounce, before plummeting. As of the close on January 31, the silver price was reported at 85.25 USD/ounce
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According to Xinhua News Agency, international precious metal prices plummeted to record lows on January 30, mainly influenced by profit-taking and short-term futures traders closing long positions. Additionally, market analysis suggests that U.S. President Trump’s nomination of former Federal Reserve Board member Kevin Warsh as the next Fed Chair on January 30 exacerbated the decline in precious metal prices. Warsh has publicly criticized the side effects of quantitative easing policies, arguing that the Fed needs to work more closely with the U.S. Treasury on policy. The U.S. Department of Labor announced on January 30 that the core Producer Price Index (PPI) for December 2025 and the entire year exceeded economists' previous expectations, indicating that inflation is gradually integrating into the overall economy. Rising producer prices may force the Fed to maintain a &#34;neutral&#34; monetary policy longer than expected, which is bearish for gold prices.
On January 30 local time, the CME Group raised margin requirements for gold and silver futures on the New York Mercantile Exchange (Comex), following the largest price drop for these futures in decades.
The CME stated that for non-high-risk accounts, the margin ratio for gold will increase from the current 6% to 8%, and for silver, it will rise from 11% to 15%; for high-risk accounts, the margin ratio for gold will increase from 6.6% to 8.8%, and for silver, it will rise from 12.1% to 16.5%. The margin for platinum and palladium futures contracts will also be increased.
The CME indicated that this adjustment will take effect from the close on Monday and is the result of &#34;regular assessments of market volatility to ensure sufficient collateral coverage.&#34;
Is the logic loosening?
Huang Jiaqi, precious metals analyst at Zhuochuang Information: In the short term, precious metal prices may continue to fluctuate. In the long term, the core logic affecting the rise and fall of precious metals, such as safe-haven demand, &#34;de-dollarization,&#34; and the global gold-buying spree, still exists. For investors, it is crucial to be highly vigilant about the volatility risks of gold and silver prices, to grasp the long-term trends in precious metal price changes, and to establish a rational investment mindset.
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The World Gold Council stated that last year, total gold demand broke historical records. The main driving force behind the current gold buying spree has shifted from central banks to various investors, further fueling the historic rise of this precious metal.
In the trend report for Q4 2025 and the entire year released by the World Gold Council on Thursday, it was noted that global gold demand exceeded 5,000 tons for the first time, corresponding to a value of $55.5 billion, setting &#34;an unprecedented new high,&#34; a 45% increase compared to the previous year. The holdings of global gold exchange-traded funds (ETFs) increased by 801 tons, marking the second-highest annual increase in history; among them, Q4 holdings increased by 174.6 tons, a staggering 756% increase compared to the same period last year. However, the gold purchasing volume by central banks has declined, with total purchases for the year at 863.3 tons;
In the fourth quarter, gold purchases reached 230.3 tons, a decrease of 37% compared to the same period last year. &#34;Throughout the year, the investment motivations of risk aversion and asset diversification have been consistent, while the trend of gold prices has also become an important factor driving investment demand.&#34;
According to media reports, Toni Meadows, the investment director of BRI Wealth Management in the UK, believes that the process of gold prices rising to the $5,000 mark is &#34;too smooth.&#34; He thinks that the continuous depreciation of the dollar has previously supported gold prices, but the dollar exchange rate is now showing signs of stabilization. &#34;The gold purchasing behavior of central banks has driven the long-term rise in gold prices, but in recent months, the pace of central bank gold purchases has slowed. However, there is still a demand for further diversification of foreign exchange reserves among global central banks, as Trump's trade policies and foreign intervention actions may cause many countries to worry about holding dollar assets. The price trend of silver usually aligns with that of gold, so the simultaneous decline in silver was also expected.&#34;
Some market views suggest that gold is to some extent replacing bond allocations in balanced investment portfolios. Given the aggressive expansion and unconventional policies implemented by the Trump administration, inflation and currency depreciation pose greater risks compared to the comprehensive economic recession that bonds can hedge against. Meanwhile, geopolitical events related to Venezuela and Greenland are fermenting, the situation in Iran may escalate again, and the joint intervention by the US and Japanese authorities to boost the yen continues to heat up the demand for safe havens.
J.P. Morgan quantitative analyst Panigyrzoglou proposed a hypothesis: If the proportion of gold allocation by private investors increases from the current 3% to 4.6% in the coming years due to the reduction of long-term bonds and an increase in gold allocation, what changes will occur in the market? He wrote in his research report: &#34;Theoretically, gold prices could rise to $8,000 to $8,500 per ounce.&#34; Of course, the path to gold reaching $8,500 may be fraught with twists and turns. The analyst found that commodity trading advisors (CTAs) and trend traders are in a severely overbought position regarding gold and silver. &#34;This means that there is a risk of investors taking profits and prices reverting to the mean in the short term.&#34;
In the medium to long term, corrections in gold and silver may be seen as good buying opportunities. As the scale of capital allocation to gold continues to rise steadily, its long-term bullish logic remains unchanged. &#34;For gold, a price below $5,000 per ounce may be a reasonable adjustment support level,&#34; said Manikadi.
Risk Warning and Disclaimer
The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at their own risk.

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International gold and silver prices have fallen sharply, with gold prices dropping more than 200 yuan within two days, leading to a surge of customers at the Shenzhen Shuibei gold store. Female star Bao Tianqi revealed that the silver she purchased 13 years ago at 4 yuan per gram was forgotten in a bank safe deposit box, and she needs to pay overdue fees of 7,000 yuan

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Gold prices plummeted, and Shenzhen Shuibei was crowded with people flocking to buy gold; an actor revealed that he bought silver at 4 yuan per gram, which he forgot in a bank safe 13 years ago, and now needs to pay over 7,000 yuan for overdue fees