⚡ MARKET RECAP → The S&P 500 (VOO) fell Friday as the precious metals trade began to unwind — with silver declining the most in a single day since the 1980s.

🪙 PRECIOUS METALS MELTDOWN → Gold and silver tumbled sharply as the market digested President Trump’s selection of Kevin Warsh as Fed chair, boosting the dollar and reversing a months-long rally in precious metals.

👀 GME EYES M&A → GameStop’s CEO is hunting major consumer acquisitions, deploying nearly $5 billion in cash to reshape the company’s future and fuel a possible growth pivot.

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For the week beginning January 27, 2026

📉 Gold and silver prices plunged sharply on Jan. 30, 2026 as markets reacted to news that President Donald Trump plans to nominate Kevin Warsh as the next chair of the Federal Reserve. The move boosted expectations that the central bank might avoid aggressive rate cuts, lifting the U.S. dollar and reducing demand for non-yielding assets like precious metals.

🔽 Historic drops in metals prices — Gold experienced its steepest one-day fall in decades, sliding roughly 9.5 % to $4,745/oz after hitting record highs earlier in the week, while silver plunged nearly 28 – 32 %, poised for its worst daily loss since 1980. Profit-taking after a blistering rally and a stronger dollar contributed to the sell-off.

📊 Dollar strength and policy expectations — The U.S. Dollar Index rose about 0.7 %, making gold and silver more expensive for overseas buyers and damping safe-haven demand. Analysts say the correction reflects both profit-taking after recent record runs and shifting expectations about future rate policy under a Warsh-led Fed.

📈 Cohen eyes major acquisitions — GameStop CEO Ryan Cohen is targeting big consumer or retail companies for acquisition as part of his plan to transform the videogame retailer into a broader investment and consumer business. He told The Wall Street Journal that he has $4.7 billion in net cash and plans to pursue several publicly traded targets “soon.” (turn1news25)

💡 Stock reacts positively — GameStop’s shares rose roughly 4 % on the news, boosting the stock’s 2026 gains to about 18 % as investors cheer the strategic pivot away from pure retail toward an investment vehicle model. Some observers liken Cohen’s approach to Berkshire Hathaway-style capital deployment, repurposing cash for acquisitions that could significantly expand the company’s revenue base. (turn1news25)

📊 Aligned incentives and shareholder support — Cohen’s compensation is tied to ambitious targets — including hitting a $100 billion market cap and $10 billion cumulative EBITDA — including stock options only vesting if goals are met, aligning his rewards with long-term shareholder value. Shareholders are expected to vote on the pay package this spring.

Partial government shutdown on track for Saturday after Senate vote on funding deal stalled (CNBC)

Eli Lilly plans $3.5 billion manufacturing plant in Pennsylvania to make next-generation obesity injections (CNBC)

Silver drops 30%, gold tumbles 10% as Trump Warsh pick eases Fed independence fear, triggers dollar rally (CNBC)

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