Gold Is Ripping 1/28/26

Summary

Podcast Summary: Your Money Minute

Episode: Gold Is Ripping 1/28/26
Host: Jessica Ettinger (CNBC)
Date: January 28, 2026

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Episode Overview

In this brisk 60-second episode, CNBC’s Jessica Ettinger explores the explosive surge in precious metals, with gold hitting historic highs and silver and platinum not far behind. The segment discusses both the financial and psychological forces fueling the rally, drawing on insights from multiple CNBC experts and notable voices in finance.

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Key Discussion Points & Insights

1. Unprecedented Highs in Precious Metals

• Gold has reached an all-time high, climbing above $5,000 for the first time ever.
  • "Gold above 5,000 for the first time ever. Silver crossing into the triple digits." — (Unknown CNBC Expert, 00:09)
• Silver has shot into triple digits, gaining over 50% in less than a month.

2. Is the Rally Over? Unlikely, Say the Bulls

• Despite "monster" gains (gold up 82% for the year), some major firms are still raising targets.
  • "Firms including Morgan Stanley say the run might not be over. They're raising their bull case target to 5,700 for the second half..." — (Unknown CNBC Expert, 00:15)

3. Precious Metals: Still a Safe Haven, or Pure Momentum?

• Traditionally, gold, silver, and platinum are seen as “hedges” or "safe places" for money.
  • "Precious metals always used to be considered a hedge and a safe place to put your money." — Jessica Ettinger, 00:26
• Now, there’s a shift in psychology; buying seems driven more by momentum and crowd behavior.
  • "Now precious metals seem to be turning into something you're buying because everyone else is." — Jessica Ettinger, 00:31
  • "Has it become now just such a wonderful self-perpetuating momentum trade? ... Safe havens aren't supposed to move 50% in less than one month." — Steve Sedgwick, 00:40

4. What’s Behind the Surge?

• Beyond trend-following, trade tensions and international relations are cited as factors.
  • "Some driven because of trade tensions and US International relations issues and more." — Jessica Ettinger, 00:57

5. Jim Cramer’s Blunt Take — Don’t Sell Gold

• On CNBC’s Mad Money, Jim Cramer issues a strong opinion:
  • "You do not sell gold here. Just don't." — Jim Cramer, 01:12
  • Even when questioned about record highs (inflation-adjusted included), Cramer remains resolute:
    • "I don't care. Not concerned." — Jim Cramer, 01:21-01:22
  • He points to the US budget deficit and political discord as reasons to keep (and even buy) gold:
    • "I think that our budget deficit is obscene. I think the inability of the US Government to work. ... makes me feel even better about owning gold and buying gold." — Jim Cramer, 01:22-01:37

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Notable Quotes & Memorable Moments

• Steve Sedgwick [00:40]:
  "Has it become now just such a wonderful self-perpetuating momentum trade? I mean, silver's a great case in point. It has rallied just over 50% in less than a month. Think about it. Safe havens aren't supposed to move 50% in less than one month. It's quite extraordinary."

• Jim Cramer [01:12]:
  "You do not sell gold here. Just don't."

• Jim Cramer [01:22]:
  "I think that our budget deficit is obscene. I think the inability of the US Government to work. I think the idea that the only thing that the Democrats have is a blunt force instrument shutting the government down just makes me feel even better about owning gold and buying gold."

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Timestamps for Important Segments

• 00:00 — Jessica Ettinger opens with the breaking news on precious metals' historic surge.
• 00:09 — Context: Gold crosses $5,000, silver into triple digits, Morgan Stanley’s targets.
• 00:26 — The psychological and behavioral shift in why people are buying gold now.
• 00:40 — Steve Sedgwick describes the momentum phenomenon, highlighting silver’s rapid climb.
• 00:57 — Geopolitical and macro causes: trade and international relations.
• 01:12 — Jim Cramer’s unfiltered advice: “Don’t sell gold.”
• 01:22-01:37 — Cramer’s deeper rationale: deficits, political dysfunction, and confidence in gold.

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Tone and Takeaway

• The episode strikes an urgent, slightly incredulous tone, highlighting the “extraordinary” nature of current precious metals rallies.
• Experts seem divided about whether these markets are still about safety, or have tipped into speculative fervor.
• The underlying message: Despite unheard-of highs, many (like Jim Cramer) believe “You do not sell gold here” — political and economic uncertainty argues for its continued rise.

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For more analysis and coverage, visit CNBC.com

Transcript

[A]

With a CNBC you Money minute, I'm Jessica Ettinger. Gold with historic all time highs again. And silver and platinum have been soaring too.

[B]

Gold above 5,000 for the first time ever. Silver crossing into the triple digits. And despite gold's monster gain, firms including Morgan Stanley say the run might not be over. They're raising their bull case target to 5,700 for the second half even with prices up 82% for the year.

[A]

CNBC's Pippa Stevens precious metals always used to be considered a hedge and a safe place to put your money. But CNBC's Steve Sedgwick says now precious metals seem to be turning into something you're buying because everyone else is.

[C]

Has it become now just such a wonderful self perpetuating momentum trade? I mean silver's a great case in point. It has rallied just over 50% in less than a month. Think about it. Safe havens aren't supposed to move 50% in less than one month. It's quite extraordinary.

[A]

When it comes to gold, silver and platinum, people have been buying, some driven because of trade tensions and US International relations issues and more. Here's CNBC Mad Money host Jim Cramer with CNBC's David Faber on Monday, January 26th.

[D]

You do not sell gold here. Just don't continue to buy gold center.

[C]

Even though this is by far now and even inflation adjusted at an all time high.

[D]

I don't care. Not concerned.

[E]

I don't care.

[D]

I think that our budget deficit is obscene. I think the inability of the US Government to work. I think the idea that the only thing that the Democrats have is a blunt force instrument shutting the government down just makes me feel even better about owning gold and buying gold.

[A]

Lots more on [e-mail] Jessica Ettinger, CNBC.

[E]

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