Markets Weekly January 24, 2026

Summary

Joseph Wang reviews the week's gold and silver surge, geopolitical tensions around Greenland/Davos and the sell-America trade, and Japan's bond/yen volatility. He sees gold supported by geopolitical hedging and underinvestment, treats silver as a parabolic but risky setup, and argues Japan's 160 yen line is now backed by US authorities. He also notes JGB yields adjusting to a higher inflation regime and flags upcoming Fed events.

• Gold and silver surged, with silver above $100 and gold near $5,000.
• Davos and Greenland/EU-US tensions briefly revived a sell-America trade, then reversed.
• Joseph Wang sees gold's geopolitical hedge and diversification demand as further upside.
• Silver is described as a parabolic, historically volatile retail-driven asset.
• Japan saw JGB volatility, a BOJ meeting, and reports of Fed/Treasury FX intervention.
• The yen strengthened after authorities signaled 160 as a line in the sand.
• Japanese bond yields are repricing toward a 2-3% inflation regime.
• Upcoming Fed meeting and Fed chair race were noted as secondary topics.