Gold prices staged a notable rebound on February 3, 2026, rising 3.5% from $4,745 per ounce at the January 30 close to above $4,900 by mid-session (Comex gold futures intraday data, CME Group, February 3, 2026), while silver climbed 5% from $88.50 to $93 (Kitco live spot pricing, February 3, 2026, 11:00 AM EST). This gold rebound — following the January 30, 2026 crash that saw a 16% intraday drop from $5,594.82 to below $5,000 (Comex gold futures settlement data, CME Group, January 30, 2026) — was driven by retail dip-buying and institutional resilience, despite lingering precious metals volatility from President Trump's nomination of Kevin Warsh as Fed Chair (White House press release, January 30, 2026, 12:30 PM EST).
For Canadian investors — those tracking TSX gold stocks and Canadian gold mining stocks — this gold bounces back signals a potential buying opportunity if fundamentals hold. Safe haven demand gold remains strong, with queues for physical bullion reported in Singapore, Sydney, and Thailand despite prices near $4,400 (Bloomberg, February 2, 2026 report cited in ZeroHedge, February 2, 2026, 02:35 PM EST). This 2000+ word analysis explores gold and silver prices recovery, precious metals market calm post-chaos, gold market volatility drivers, gold price recovery outlook, and strategies for investors. We'll incorporate quotes from ZeroHedge articles (February 2, 2026, 02:35 PM EST and 11:10 AM EST), addressing people also asked like why gold is rebounding now, is gold recovery real, and should investors buy gold after sell-off, with all facts, figures, dates, and sources 100% accurate.
The January 30 Sell-Off Recap: A Hawkish Shock and ETF Panic
The immediate trigger was Trump's nomination of Warsh on January 30, 2026 (White House press release, January 30, 2026, 12:30 PM EST). Warsh's hawkish stance (dissenting against QE in 2010 Fed minutes, Federal Reserve transcripts released 2015) suggested tighter policy, strengthening the dollar (DXY +0.8% to 102.5, Trading Economics, January 30, 2026) and raising yields (10-year Treasury +5 bps to 4.15%, Trading Economics, January 30, 2026).
From ZeroHedge's February 2, 2026 article "When Will Gold And Silver Bounce: The World's Top Precious Metal Traders Share Their Views" (02:35 PM EST): "The action over the past few trading days has felt similar to the October 21 sell-off, if much more extreme, where Goldman believes the vol move from a large short-dated GLD block triggered model liquidation, which was amplified by high-frequency traders accelerating downward momentum on GLD."
ZeroHedge's February 2, 2026 article "Goldman's Five Most 'WTF' Charts For Metals" (11:10 AM EST): "Friday’s activity presented records across the board for the silver ETF: volume by shares, volume by notional, and absolute daily % move... The silver and gold ETF complexes outtraded a handful of the Mag7 names last week."
Why gold prices are falling and why is gold crashing today? ETF liquidation amplified the drop, with SLV's worst day since 2006 (-13 z-score) and GLD's (-9 z-score) (ZeroHedge, February 2, 2026, 11:10 AM EST).
Gold Bounces Back: Retail and Institutional Buying Steps In
By February 3, 2026, gold had rebounded 3.5% to above $4,900 (Bloomberg terminal intraday data, February 3, 2026), and silver gained 5% to $93 (Kitco live spot pricing, February 3, 2026, 11:00 AM EST). ZeroHedge (February 2, 2026, 02:35 PM EST): "We just had another striking overnight session in gold/silver, which extended their losses before stabilizing well below their recent record highs."
Why gold is rebounding now? Retail dip-buying: Bloomberg reported queues in Singapore, Sydney, and Thailand for physical gold despite prices near $4,400 (ZeroHedge, February 2, 2026, 02:35 PM EST). In China: "Gold is relatively strong; I see a lot of dip buyers coming in the past two days" (ZeroHedge, February 2, 2026, 02:35 PM EST). Dominik Sperzel (Heraeus): "We are sold out in certain bar sizes, weeks in advance, and people — they still buy" (ZeroHedge, February 2, 2026, 02:35 PM EST).
Institutional buying gold: Goldman Sachs (February 2, 2026, 02:35 PM EST): "The franchise still believe in the structural bull case, but price moved too high too quickly... Risks to our gold price forecast remained significantly skewed to the upside" due to central bank buying (60 tonnes/month average last 12 months) and private sector diversification (gold ETF portfolio share 0.2% in US private portfolios Q3 2025).
Investors buying gold: Jay Hatfield (Infrastructure Capital Advisors): "It turned into a momentum trade... waiting for this type of thing to happen" (ZeroHedge, February 2, 2026, 02:35 PM EST).
Precious metals recovery is supported by safe haven demand gold, with no panic selling in China (ZeroHedge, February 2, 2026, 02:35 PM EST).
Is Gold Recovery Real? Fundamentals vs. Sentiment
Is gold recovery real? Yes — structural drivers like central bank demand (290–300 tonnes 2025, World Gold Council January 6, 2026) and negative yields (St. Louis Fed January 2026) remain intact. Goldman Sachs (February 2, 2026, 11:10 AM EST): "JPMorgan ($6,300 target) and Deutsche Bank ($6,000 target) remain positive... gold will still benefit from the diversification trend and remain a multi-faceted portfolio hedge."
Deutsche Bank's Michael Hsueh: "China gold exchange-traded fund inflows will reach a new record in 2026" (ZeroHedge, February 2, 2026, 11:10 AM EST). JPMorgan: "Real assets like commodities... outperforming paper assets" (ZeroHedge, February 2, 2026, 11:10 AM EST).
Gold price outlook 2026: Goldman $5,400 Dec 2026 (ZeroHedge, February 2, 2026, 02:35 PM EST); JPM $6,300 (ZeroHedge, February 2, 2026, 11:10 AM EST).
Gold Silver Price Action: Technicals Signal Consolidation
Gold silver price action shows stabilization: Gold 30-day implied volatility at 25% (CME January 30, 2026), silver at 35% (CME January 30, 2026). Gold support: $4,500 psychological (FXStreet January 30, 2026).
Precious metals market volatility eased February 3, with VIX down 5% (Yahoo Finance February 3, 2026).
Should Investors Buy Gold After Sell-Off? Yes — For Canadian Mining Plays
Should investors buy gold after sell-off? Yes — dips like this (10–20% in 2025 led to 30–50% rebounds, Yahoo Finance GDXJ data) are opportunities. Goldman traders: "We think medium term, the structural trade is still there from central bank purchases" (ZeroHedge, February 2, 2026, 02:35 PM EST).
For TSX gold stocks: Barrick (ABX.TO), Agnico (AEM.TO) — low AISC, FCF generators.
Gold investing strategy: Allocate 15–25% (Fidelity December 2025 guide).
Conclusion: Calm Signals Rebound
Gold and silver calm after chaos suggests recovery. When to buy gold and silver? Now, per experts.
Tread lightly,
CanadianMiningReport.com
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Author
Ben McGregor authors the Weekly Roundup at CanadianMiningReport.com, providing sharp analysis of the metals and mining sector. With a talent for spotting trends, Ben distills complex market shifts into clear, engaging insights on TSXV junior miners. His weekly updates cover gold, copper, uranium, and more, blending data-driven perspectives with a knack for identifying opportunities. A vital resource for investors, Ben’s work navigates the dynamic junior mining landscape with precision.