Gold Tops $4,700, Silver Nears $100: Geopolitical Surge, Profit-Taking, and Dalio's Portfolio Wisdom

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Saturday, January 24, 2026

In this high-energy mid-February 2026 edition of Hard Money Matters, hosts Kyle Warren and John Mabin (founder of Pegasus Coin and Jewelry in Bradenton) marvel at the breathtaking precious metals rally, with gold climbing past $4,700/oz (continuing its historic ascent with no clear ceiling in sight) and silver shocking observers by reaching $95/oz and barreling toward $100 amid relentless momentum—transforming a single roll of Silver Eagles from ~$600 melt value not long ago to ~$2,000 today. They discuss the mix of euphoria and caution: congratulations to long-term holders staring at massive profits, while new buyers face tough decisions at these levels—John advising patience for a pullback if starting fresh, though one may never come given the run's "legs." Driving forces include surging global demand from central banks hoarding gold as a fiat hedge/default currency, industrial/tech needs (AI, batteries, EVs), and geopolitical uncertainties—Trump's push for Greenland (rich in rare earth minerals critical for tech/defense, echoing past U.S. territorial buys paid in gold), China's influence, Russia's role, Venezuela/Mexico dynamics, and Canada's perceived retaliatory pivot toward Beijing. They highlight real-world shop activity: heavy profit-taking as holders sell unused jewelry or bars (turning dormant assets into cash amid highs), but far more sellers than buyers straining dealer liquidity—shops acting as "banks" with delayed wholesale payouts, lower buy percentages relative to spot, and occasional terms for large numismatic sales. John shares Ray Dalio's Davos insights (gold surging amid fiat order breakdown but wisely limited to 5–15% of portfolios for balance, not all-in exuberance) and expresses growing skepticism toward cryptocurrency (imaginary, hackable, eroding confidence vs. metals' millennia-proven track record). Amid volatility warnings—no straight-up moves forever, rotations inevitable, higher risk than equities—they celebrate metals' timeless appeal as a hedge and the abundance of free information for informed decisions with strong "BS filters." As always, opinions aren't investment advice, and buying/selling precious metals/coins carries risks of loss—visit Pegasus for expert estimates or tune in next week!