Amillex Daily Market Commentary | Gold & Silver Surge in Sync, Silver Jumps 10.2% in a Single Day

January 27, 2026 — Rising geopolitical tensions and escalating trade conflicts have reignited safe-haven demand, pushing market risk aversion into high gear. After US–Canada trade frictions intensified over the weekend, bullish momentum continued through January 26 and into today’s early session, supported by strong institutional inflows and elevated geopolitical risk. Spot gold surged above USD 5,110 to a new all-time high before easing to USD 5,077.22, still posting a near-2% daily gain. Silver outperformed sharply, jumping 10.2% in one session to close at USD 113.46, after hitting an intraday record of USD 117.70.

Asset Performance & Fundamental Overview

1. 米国株式市場

インデックスパフォーマンス

ダウ・ジョーンズ工業株平均: ~49,412 (+0.09%). After a post-Davos rebound, the Dow has entered a “base-building” consolidation at historical highs.
S&P 500: ~6,954. Despite lingering global trade tensions, the market appears to be digesting the short-term impact of tariff pressures.
ナスダック総合指数: ~25,884. Performance among tech heavyweights remains highly fragmented, with valuation-sensitive sectors continuing to face profit-taking.

株式ハイライト

テスラ（TSLA）： ~USD 435.20 (-3.09%). After several days of sharp volatility, Tesla came under renewed pressure today, slipping below the USD 440 level as market sentiment remains on high alert.

2. 外国為替市場

米ドル指数（DXY）： ~97.06. Markets are closely watching Powell’s guidance on the 2026 rate-cut path; any comments on inflation stickiness could determine whether the dollar resumes its upward trend.
ユーロ/米ドル: ~1.1880. Weighed down by recent dovish signals from ECB officials and unresolved transatlantic trade tensions, the euro’s rebound remains capped, with near-term consolidation at lower levels.
米ドル/円: ~154.20. After intense volatility earlier, the yen has stabilized. As risk appetite turns neutral ahead of the US equity open, marginal safe-haven demand has eased.

3. 貴金属・コモディティ

貴金属

スポットゴールド（XAUUSD）： USD 5,046/oz. After firmly establishing above the historic USD 5,100 psychological level, gold is consolidating at elevated levels.
スポットシルバー（XAGUSD）： USD 107/oz. Silver continues to show explosive momentum, holding well above USD 100 and forming a new support zone above USD 105.

商品

WTI原油: USD 60.88/bbl. Oil prices remain locked in a stalemate, narrowly holding above the critical USD 60 support level.

4. Crypto Assets & Macro Developments

ビットコイン（BTC）： USD 88,236. Volatility has intensified recently. After slipping below USD 90,000, prices are oscillating above the USD 88,000 level.
イーサリアム（ETH）： USD 2,921. ETH has rebounded above USD 2,900 but has yet to reclaim the key USD 3,000 threshold.

5. 今日の焦点