1. U.S. stocks turned higher on Monday, after a turbulent week that ended with the Dow closing above 50,000 for the first time as investors face another busy schedule of earnings and economic data. The S&P 500 rose around 0.6%, while the tech-heavy Nasdaq Composite gained 1%. The Dow Jones Industrial Average hovered around the flat line, keeping above its milestone. Wall Street continues to debate the AI disruption risk to software companies, with a sharp decline in share price to start the week with the latest sign of unease towards the sector. Stocks fell as much as 22% after the software maker offered revenue and profit guidance that fell short of Wall Street forecasts. Gold and bitcoin also remained in focus for investors, with gold futures rising back above $5,000 an ounce on Monday while bitcoin fell back. Both assets were hit hard last week, with Bitcoin suffering its sharpest daily decline since 2022 on Thursday.
2. Treasury Secretary Scott Bessent cited Chinese traders as a reason behind last week’s wild swings in the gold market. “The gold move thing, things have gotten a little unruly in China,” Bessent said to the media. “They’re having to tighten margin requirements. So, gold looks to me kind of like a classical, speculative blowoff.” Bessent was responding to a question about a record-breaking rally in precious metals, fueled by speculative buying, geopolitical turmoil and concern about the Federal Reserve’s independence — that abruptly reversed last week. Gold and silver prices are higher in early U.S. trading Monday. April gold was last up $55.70 at $5,034.80. March silver prices were up $2.82 at $79.72.
3. U.S. retail sales were unexpectedly unchanged in December, putting consumer spending and the overall economy on a slower growth path heading into the new year. The flat reading in retail sales last month followed an unrevised 0.6% increase in November. Economists polled had forecasted retail sales, which are mostly goods and are not adjusted for inflation, would rise by 0.4%. The Census Bureau is still catching up on data releases after delays caused by last year’s government shutdown. December’s drop and the downward revision to November’s data could prompt economists to trim their fourth-quarter estimates for consumer spending and GDP. Consumer spending increased at a brisk pace in the third quarter, driving much of the economy’s 4.4% annualized growth pace during that period. The Atlanta Federal Reserve is forecasting GDP increased at a 4.2% rate in the fourth quarter.
4. The economy added 130,000 jobs in January, far more than economists had anticipated, while the unemployment rate edged down slightly to 4.3%, Labor Department data released Wednesday showed. Still, according to updated 2025 numbers, the job market also added 181,000 jobs for the entirety of last year, revised down from the earlier-reported growth of 584,000 jobs — the slowest pace of job growth outside recession since 2003.
5. There’s a disconnect between the stock market and consumer optimism, and some economists say affordability is a primary culprit. Over the last four to five years, the stock market has become divorced from consumer sentiment: Stock valuations have soared while consumer optimism has plunged to near-record lows, economists said. The University of Michigan’s consumer sentiment index should have ended 2025 at a value of 93, based on indicators like stock prices, unemployment, and inflation. Instead, it was 40 points lower, near an all-time low. “Historically, household perceptions of the economy closely tracked key macroeconomic indicators,” according to Oxford Economics. “Today, those indicators suggest consumers should be feeling significantly more upbeat than they do.” Measuring how consumers feel, and how that sentiment relates to the stock market and broad economy — is important since consumer spending accounts for the bulk of U.S. economic output.
6. Inflation cooled more than expected in January, data released Friday by the Bureau of Labor Statistics showed. The Consumer Price Index showed that consumer prices increased 0.2% in January from a month earlier and 2.4% on an annual basis, down from 2.7% last month. Economists surveyed had expected a 0.3% monthly increase in consumer prices and an annual bump of 2.5%.
7. The number of Americans filing new applications for unemployment benefits decreased by less than expected last week, likely as disruptions from winter storms lingered. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 227,000 for the week ended February 7. Economists polled had forecasted 222,000 claims for the latest week.
8. West Texas Intermediate (WTI) crude oil futures are trading sharply lower this week, with nearby contracts at $62.87 as of Thursday night, down $0.68 or -1.07% for the session. The weekly range spans from a high of $65.83 to a low of $62.39, reflecting the market’s struggle to balance geopolitical risk against mounting supply concerns. At the time of writing, Brent Crude was trading for $67.90 per barrel.
9. EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the U.S. Dollar as investors continue to assess the latest U.S. CPI readings.
10. USD/JPY appreciates above 153.00 but remains on track for a 2.4% weekly loss. Trading volumes remain subdued on Friday, ahead of the IS CPI release. The Yen remains supported by hopes of a stable government and calls for further BoJ tightening.
Silver jumped above $85.00, extending a run of elevated volatility, as an industry body pointed to stronger investment buying and slightly weaker industrial demand in the year ahead. The metal rose as much as 6.8% on Wednesday, about one third higher than last week’s low. The silver market will be in deficit for a sixth consecutive year, according to a report published by the Silver Institute. Silver has been on a wild ride over the past year, more than doubling in price on a wave of investor money. Much of the speculative demand for silver in recent months has come from China. Domestic producers and traders in the country are currently struggling to fill a backlog of orders, pushing the front-month contract on the Shanghai Futures Exchange to a record premium.
U.S. banks sharpened their stance this week in a clash with the crypto industry that has put major legislation on ice in Congress. Behind closed doors, the banking industry shared a document calling for a prohibition on companies paying customers interest on their stablecoin balances during a second round of talks hosted by the White House’s crypto council. That document served as the basis for the discussion during a Tuesday meeting on the issue, which is the major hold-up in getting the Clarity Act through Congress. There has been a disagreement over whether crypto platforms should be able to pay customers “yield,” or interest on their stablecoin balances, which has stalled the Clarity Act. Stablecoins are cryptocurrencies with values pegged to the U.S. dollar, gold, or other fiat currencies and assets. In a joint statement issued Tuesday evening, the American Bankers Association, Bank Policy Institute, and the Independent Community Bankers Association called for policy that “can and must embrace financial innovation without undermining safety and soundness, and without putting the bank deposits that fuel local lending and drive economic activity at risk.”
Mortgage rates dipped slightly lower this week, weathering volatility in bond markets. While bond yields sagged early in the week, Wednesday’s surprising jobs report sent yields soaring. According to Freddie Mac, the average 30-year fixed rate this week was 6.09%, down from 6.11% the previous week. The 52-week low is 6.06%. Meanwhile, the 15-year fixed averaged 5.44%, down from 5.50%. “Bolstered by strong economic growth, a solid labor market, and mortgage rates at three-year lows, housing affordability continues to measurably improve,” said Sam Khater, Freddie Mac’s chief economist. “These factors have caught the attention of many prospective homebuyers, driving purchase application activity higher than a year ago.”
Volatility should be expected to remain high as investors will be closely watching for hints on the upcoming monetary policy direction. Many investors have redoubled their efforts to ensure that their portfolios are sufficiently diversified in the hope that they will be able to withstand corrections in multiple market sectors. Many of these investors have included physical precious metals as part of their diversification plans, given their long history as a hedge against both inflation and during times of economic turmoil. Remember, the key to profitability through the ownership of physical precious metals is to own the physical product and hold it for the long term. Always remember that you should never overextend your ability to maintain ownership of your precious metals over the long run.
Trading Department – Precious Metals International Ltd.
Friday to Friday Close (New York Closing Prices)
| Feb. 6, 2026 | Feb. 13, 2026 | Net Change | ||
| Gold | $4,961.43 | $5,020.01 | 58.58 | 1.18% |
| Silver | $77.45 | $77.72 | 0.27 | 0.35% |
| Platinum | $2,108.68 | $2,077.05 | -31.63 | -1.50% |
| Palladium | $1,736.15 | $1,680.57 | -55.58 | -3.20% |
| Dow | 50130.57 | 49500.62 | -629.95 | -1.26% |
Previous Year Comparison
| Feb. 14, 2025 | Feb. 13, 2026 | Net Change | ||
| Gold | $2,887.07 | $5,020.01 | 2132.94 | 73.88% |
| Silver | $32.41 | $77.72 | 45.31 | 139.80% |
| Platinum | $986.17 | $2,077.05 | 1090.88 | 110.62% |
| Palladium | $989.68 | $1,680.57 | 690.89 | 69.81% |
| Dow | 44545.46 | 49500.62 | 4955.16 | 11.12% |
Here are your Short-Term Support and Resistance Levels for the upcoming week.
| Gold | Silver | |
| Support | 4819/4545/4130 | 63.97/49.92/35.79 |
| Resistance | 5234/5507/5923 | 92.14/106.27/120.32 |
| Platinum | Palladiumn | |
| Support | 1838/1572/1319 | 1558/1407/1258 |
| Resistance | 2256/2610/2875 | 1858/2007/2158 |