After evaluating the movements of the on different time chart patterns, I anticipate that the weekly closing levels could define the further directional move as despite some easing on geopolitical front, indecisiveness is at higher pitch due to nomination of Kevin Warsh for the role of chairman of the Federal Reserve, potentially starting in May when the role is vacated by current chair, Jerome Powell.
While announcing Warsh’s nomination through his post on Truth Social, President Donald Trump outlined the reasons why Warsh’s past experience will equip him to be a “GREAT” chairman. He also noted Warsh’s previous tenure in the Federal Reserve, last time as a member of the Fed’s board of governors between 2006 and 2011.
Undoubtedly, this nomination is set to clear out a major point of uncertainty for the markets, as investors fret over the long-term trajectory of ending rates in the country, and the Warsh’s potential nomination also comes amid heightened concerns over the Fed’s independence, especially amid growing calls from the White House that the central bank cut rates aggressively.
Additionally, Trump publicly endorsed a bipartisan spending deal negotiated by Senate Republicans and Democrats that would avert a looming government shutdown, posting support on Truth Social and urging cooperation.
The compromise would fund most federal agencies while leaving contentious immigration issues for further negotiation.
I find that the currently prevailing scenario in the U.S. confirms some attitudinal tilt of Trump’s aggressiveness over the Iran issue, which was in focus till a few hours back. But changing Middle East political attitude seems to favour Iran’s sovereignty as the priority, as the whispers from the neighbours of Iran and Russia make the situation a little more difficult than it was in the case of Venezuela.
Undoubtedly, President Trump realizes this fact very well, that merely blaming one country one way or the other will not be enough to capture its oil fields.
Trump seems to be habitual of twisting the situation by creating phobia on other, and his techniques work mostly as the investors have realized these criteria well as by creating havoc over attacking Iran, President Trump not only over stretched the fear but also impacted the safe-haven demand multi-fold in January, 2026.
Undoubtedly, gold futures have experienced a surge of 30.84% within 27 days, in January 2026 amid griming havoc created by Donald Trum by capturing Venezuelan President Nicolas Maduro and his wife on Jan.2, followed by extended ambition to rule Greenland, and for this he imposed extra tariff over the European countries by convincing the American citizen to bear extra burden of increased import cost.
This way, he not only extended geopolitical tensions at the international level but also dented the U.S. economy, resulting in an overly stretched price bubble in prices as the investors were forced to buy more and more gold amid surging geopolitical tensions this month.
But soon the investors realize the core of the hype, created by extending geopolitical tensions one after other, they started to sell the gold and silver, as the overly stretched prices have led to end their safe-haven potential a long ago, even in October 2025 when the rally in gold futures experienced a heavy selloff on Oct.21, 2025 as the real drivers behind this rally, started to disappear from the scene, resulting in a 6,5% single-day-fall, followed by selling spree that continued up to October 28 when the gold futures tested a low at $3,891.66, a fall of approximately 11.53% within next 8 days while this October 2025 rally experienced a surge of approximately 31.17% in 57 days with a 46-degree angle of elevation.
But in January 2026, the rally in gold has seen a surge of approximately 30.83% in 27 days with a 68-degree angle of elevation, which has already started to melt down on Jan. 29, despite a reversal seen from the day’s tested lows at $5,172.89 and day’s high at $5,647.89, closed the day at $5,474.10 on Jan. 29, 2026.
On January, 30, 2026, this rally started the day at $5,467.64, after testing the day’s high at $5,480.05, and day’s low at $4,969.56, gold futures are trading at $5,040, have already experienced a fall of more than 11%, and could continue this slide for some more days if the god futures close this week below the immediate support at $4,398.48.
