The US Dollar Posts Largest One-Day Gain in July, Gold and Silver Plunge Weighing on Commodities-linked Currencies
**U.S. Dollar Posts July-High Single-Day Gain on Gold/Silver Plunge; DXY Ends January Mixed**
The U.S. dollar surged sharply on Friday, Jan. 31 — its biggest single-day gain since July — as collapsing gold and silver prices pressured currencies from the Australian dollar to the Swiss franc. The U.S. Dollar Index (DXY) closed out the volatile month with a roughly 0.9% gain.
The index swung wildly throughout January amid Trump administration policies. Friday’s rebound was supported by sliding precious metals and Trump’s pick of Wash as Federal Reserve (Fed) chair. Still, the DXY finished January down ~1.4% — its worst monthly performance since August.
“Overall market sentiment is quite tense,” said Catherine Brooks, research director at XTB. “The dollar depreciation trade has been put on hold for now, but that doesn’t mean it’s over.” Among G10 currencies, the Australian dollar, Swiss franc and Swedish krona (tied to precious metal moves) led declines. Silver posted its largest
2 hours ago
Binance '10/11 Flash Crash' Retrospect: Denies Systemic Failure, Has Compensated Affected Users Over $328 Million
**Crypto Flash Crash on 10/11/2025: Binance Blames Macro, Liquidity—Not Platform Failure**
As of January 31, 2025, official updates confirm the crypto market suffered a sharp flash crash on October 11, 2025. Binance issued a statement attributing the turmoil to **macro economic impacts, concentrated high-leverage liquidations, liquidity contraction from market maker risk controls, and Ethereum network congestion**—not a platform-wide system outage.
Key details from Binance:
- Core systems (matching engine, risk checks, clearing) operated without crashes or interruptions during extreme conditions.
- Cascading liquidations stemmed from initial macro shocks, with high-leverage positions unwound amid rapidly shrinking liquidity.
- **Macro context**: Global financial markets fell broadly that day; U.S. stocks lost ~$1.5 trillion in value. Crypto had a months-long uptrend with all-time high derivative open interest, making it vulnerable to shocks. Extreme volatility triggered mar
2 hours ago
Analyst: Precious Metals Party Over, Seen as Unrepeatable
Jan. 31 — InvestingLive analyst Adam Button says the precious metals rally is over, and it’s arguably a once-in-a-lifetime event.
On gold: He finds it hard to picture the metal dropping below $4,000. If it hits that level, he thinks major investors would step in to buy—but he won’t make any rash claims until then.
For holders: It’s a tricky call. The market could quickly reverse or swing wildly, and panicking to make moves in Friday’s late trading isn’t wise.
Could we see more sell-offs like a “Black Monday”? Personally, I don’t think that’s likely—unless there’s a trigger beyond the Iran deal. (FXStreet)
2 hours ago
Gold Sees Largest One-Day Drop Since 1983, Silver Records Record Drop
**Spot Gold Heads for Largest 1-Day Drop Since 1983; Silver Poised for Worst-Ever Single-Day Performance**
Jan 31 (Friday) — Spot gold prices are sliding, on track for their biggest one-day decline since 1983, as the U.S. dollar rallies following former President Trump’s announcement of his pick for the next Federal Reserve chair. Silver, meanwhile, is set for its worst single-day performance on record.
Analysts call the sell-off “profit taking,” which has also pressured other precious metals. Sukhi Cooper, head of commodities research at Standard Chartered Bank, says the sell-off stems from a mix of triggers: the Fed chair appointment and broader macro fund flows.
“Combined impacts from the dollar’s trend and expected real yields are driving this profit-taking behavior,” she added.
(Source: FX168)
2 hours ago
Spot Silver Plunges 30% Intraday, Nears $80
January 31 — Bitget market data shows spot silver extended its slide, plunging 30% intraday and nearing the $80-per-ounce mark.
Other precious metals also saw sharp losses: spot platinum tumbled over 20%, spot palladium dropped roughly 15%, and spot gold slid more than 10%.
2 hours ago
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