Wall Street Breakfast Gold and silver hit new highs
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Jan 14, 2026 Gold and silver are soaring to record highs, driven by safe-haven demand amid geopolitical uncertainties. Citi has set ambitious short-term targets for these metals, aiming for $5,000 gold and $100 silver. Meanwhile, Netflix is shifting gears with an all-cash bid for Warner, facing competition from Paramount Skydance. In bank earnings, Citi outperformed while Wells Fargo and BofA gave mixed results. Plus, Honeywell is eyeing a Quantinuum IPO after previous funding with major players like JP Morgan.
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Precious Metals Surge On Safe-Haven Demand
- Gold and silver staged sharp rallies, with gold above $4,641 and silver topping $90 an ounce.
- Geopolitical shocks and concerns about Fed independence helped drive safe-haven demand and rapid gains.
Central Bank Worries Amplify Metal Prices
- The rally built on last year's Powell indictment prospect and renewed geopolitical shocks like Iran protests and tensions over Greenland and Venezuela.
- Citi raised near-term targets to $5,000 for gold and $100 for silver but expects hedging demand to moderate later.
Banks Show Resilience In Earnings Reports
- Bank earnings show mixed but resilient results across Citi, Wells Fargo, and Bank of America with improving credit metrics and guidance for NII growth.
- Investment banking, wealth management, and consumer resilience underpinned better-than-expected outcomes at major banks.