Published & Updated: January 30, 2026
While Bitcoin tests $83K lows and broader crypto bleeds, physical precious metals are in one of the strongest bull phases in decades. Gold briefly surpassed $5,300 per troy ounce and silver reached $117+ in late January 2026 — new all-time highs in both metals. The rally has propelled tokenized representations (primarily PAXG, XAUT, and emerging RWA wrappers) to a combined market capitalization exceeding $5.57 billion, with daily trading volume on major exchanges now routinely topping $400–600 million. This divergence — crypto weakness vs. metals strength — reflects classic risk-off rotation amid persistent Fed “higher-for-longer” signals, renewed Trump tariff threats, Middle East escalation, dollar weakness, and explosive industrial/central-bank demand.
This article examines the primary drivers of the 2026 precious metals supercycle, the explosive growth of tokenized gold & silver products, current technical levels, bank & analyst forecasts ($6,000 gold? $170 silver?), and how traders can position on Tapbit to capture the trend or hedge crypto exposure.
Precious Metals Price Milestones – January 2026 Snapshot
| Asset | Current / Peak Price | 2025 Year-End | YTD Gain | 12-Month Gain | Key Driver |
|---|---|---|---|---|---|
| Gold (XAU/USD) | $5,300+ (peak) | ~$2,620 | +102% | +146% | CB buying + tariff/inflation fears |
| Silver (XAG/USD) | $117+ (peak) | ~$31.50 | +271% | +277% | Industrial demand + monetary hedge |
| PAXG (tokenized gold) | ~$5,310 (tracks spot) | ~$2,630 | +102% | +146% | 24/7 trading + DeFi composability |
| XAUT (Tether Gold) | ~$5,305 (tracks spot) | ~$2,625 | +102% | +146% | Liquidity on Tron + Ethereum |
| Total Tokenized Gold/Silver Cap | $5.57B+ | ~$2.1B | +165% | +210% | Crypto rotation + new issuances |
Primary Drivers of the 2026 Precious Metals Supercycle
The current rally is fueled by a classic convergence of monetary, geopolitical and industrial forces:
- Fed “Higher-for-Longer” + Real Yield Suppression
January 28, 2026 FOMC hold at 3.50–3.75% (Powell: “not in a hurry to cut”) → real yields remain suppressed → gold & silver benefit as non-yielding stores of value. - Geopolitical & Tariff Risk Premium
Trump’s renewed threats of 25–60% tariffs on autos, pharmaceuticals, lumber, semiconductors, copper → supply-chain inflation fears. Middle East escalation, US–NATO Greenland rhetoric, China export curbs add tail-risk premium. - Central Bank & Institutional Buying
Global central banks purchased ~1,037 tonnes in 2025 (record); early 2026 data shows continued accumulation (China, India, Turkey, Poland leading). Institutional ETF inflows into GLD & SLV remain robust. - Industrial Demand Explosion (especially Silver)
Solar photovoltaic demand alone consumes ~180–200 Moz/year and grows 25–35% YoY. EVs, 5G infrastructure, AI data centers, and electronics push total industrial use above **510 Moz annually** — outpacing mine supply growth (~1–2% YoY). - Dollar Weakness & Reserve Diversification
DXY fell to four-year lows near 95.86 before partial rebound → weaker dollar traditionally fuels precious metals rallies.
Tokenized Gold & Silver – $5.57B Market Cap Breakdown
| Token | Issuer | Market Cap (Jan 30, 2026) | 24h Volume | Backing & Redemption | Chain(s) |
|---|---|---|---|---|---|
| PAXG | Paxos | ~$3.15B | ~$180–220M | Allocated LBMA gold, physical redemption | Ethereum, others |
| XAUT | Tether | ~$2.18B | ~$140–180M | Allocated gold, Tether redemption | Tron, Ethereum |
| Other (wrapped, RWA wrappers) | Various | ~$240–300M | ~$60–90M | Mixed (allocated & unallocated) | Multi-chain |
| Total Tokenized Gold/Silver | — | $5.57B+ | $400–600M | — | — |
Tokenized metals now represent ~0.8–1% of total crypto market cap — still small but growing faster than most sectors in Q1 2026.
Technical Levels & Sentiment (Gold & Silver – Jan 30, 2026)
Gold (XAU/USD) – current ~$5,280–$5,300
- Support: $5,100–$5,150 (prior breakout)
- Next Resistance: $5,400–$5,500 (measured move target)
- RSI (daily): ~78 → overbought but momentum strong
Silver (XAG/USD) – current ~$116.80–$117.20
- Support: $112–$114 (prior breakout + 50-day EMA)
- Next Resistance: $120–$122
- Gold/Silver Ratio: ~44.2 → silver outperforming
Trading Strategies & Positioning on Tapbit
- Create your Tapbit account (0% maker fees)
- Deposit USDT or JPY via bank transfer / P2P
- Continuation play: Long XAU/USDT or XAG/USDT perpetuals on pullback to support (20–50x leverage, isolated margin)
- RWA proxy: Long PAXG/USDT or XAUT/USDT spot/perps for 24/7 metals exposure
- Crypto hedge: Short BTC/USDT perpetuals or hold USDT while metals rally
- Risk control: Max 1–2% account risk per trade; trail stops below recent swing lows
FAQs – Gold & Silver Record Highs & Tokenized Metals (Jan 2026)
Why did gold hit $5,300 and silver $117 in January 2026?
Fed rate hold at 3.50–3.75% suppressed real yields, Trump tariff threats (autos/pharma/lumber/semiconductors/copper) created supply-chain inflation fears, Middle East escalation added tail-risk premium, dollar weakness (DXY <97), and record central-bank + industrial demand converged.
Are tokenized gold & silver (PAXG, XAUT) outperforming physical?
They track spot prices very closely (minimal premium/discount), but offer 24/7 trading, DeFi composability, fractional ownership and no storage costs — driving $5.57B+ market cap growth faster than physical ETFs in percentage terms.
Is gold/silver in bubble territory at these levels?
Short-term technicals (RSI ~78–82) show overbought conditions and euphoria. Long-term fundamentals (cumulative 1.5B+ oz silver deficit projected through 2030, central-bank buying, industrial use) support significantly higher levels ($6,000 gold, $170 silver in bull scenarios).
How can I trade tokenized metals on Tapbit?
PAXG/USDT, XAUT/USDT and correlated pairs (XAU/USDT, XAG/USDT) offer 0% maker fees on spot, deep liquidity, up to 125x leverage on perpetuals, and instant fiat ramps — perfect for 24/7 metals exposure without physical custody.
Conclusion & 2026 Precious Metals Outlook
Gold’s breach of $5,300/oz and silver’s surge to $117+ in January 2026 represent one of the strongest safe-haven rallies in modern markets — driven by Fed rate stability (3.50–3.75% hold), renewed Trump tariff threats, Middle East geopolitical risk, dollar weakness, and unrelenting industrial/central-bank demand. Tokenized versions (PAXG, XAUT, emerging RWA wrappers) have exploded to $5.57B+ market cap, offering 24/7 access, fractional ownership, and DeFi composability while closely tracking physical prices. While short-term overbought conditions (RSI ~78–82) suggest possible consolidation or pullback to $5,100 (gold) / $112 (silver), the structural bull case remains exceptionally strong — with credible bank targets clustering around $6,000 gold and $150–$170 silver by end-2026..
Trade gold, silver & tokenized metals momentum on Tapbit:
- Sign Up on Tapbit (0% maker fees)
- Login & Deposit JPY/USDT
- Live XAU/USDT, XAG/USDT, PAXG/USDT & XAUT/USDT Charts
Disclaimer: Precious metals and cryptocurrency markets are highly volatile and subject to rapid changes in sentiment, macro conditions, and geopolitical events. Price forecasts are estimates and not guaranteed. This article is for informational purposes only and does not constitute investment advice. Always conduct your own research (DYOR) and never invest more than you can afford to lose completely.
