Metals New Highs & New Higher Margins!

By Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — April (#GC)	5114.63	5267.17	5346.13	5498.67	5577.63
Silver (SI) — Mar. (#SI)	107.75	112.29	114.95	119.49	122.15
Crude Oil (CL) — Mar. (#CL)	61.53	62.45	62.98	63.90	64.43
Mar. Bonds (ZB) — Mar. (#ZB)	114 14/32	114 25/32	115 2/32	115 13/32	115 22/32

Metals:

Once again we give you the story of the year and this blog’s broken record update: gold and silver are trading at all-time highs today. As of this typing, Feb. gold is trading up nearly $300 per ounce (a $30,000 per contract move) and trading over $5,375 per ounce.

Silver

March silver is trading up nearly $11.00 per ounce (a $55,000 per contract move) and trading near $117.00 per ounce.

Platinum

April platinum is trading up nearly $150 per ounce (a $7,500 per contract move) and is trading near $2,680 per ounce. This is off its $2,925.00 intraday high of Monday.

Last night, CME Group raised margins yet again on a number of precious metals futures contracts. Below are the new margins for the main precious metals futures contracts.

Day trading margins vary among clearing firms / FCM’s. If needed, contact your Cannon Trading Co. broker for specifics.

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March Dollar Index

The March Dollar broke down and accelerated with gap action to a second downside PriceCount objective. The count was consistent with a test of the contract low. The chart is now trying to react with a corrective trade. IF you can resume the break with new sustained lows, the third count would project a slide to the 94.15 area.

FREE TRIAL AVAILABLE

The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved.

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk.

Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for January 29th, 2026

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.