Moving Markets

After a deep slump at the open, market sentiment turned and equity markets swung sharply into positive territory, while precious metals — which had been under intense pressure — began to claw back recent losses in the hours that followed. In the US, tech favourite Palantir impressed after the close with stronger than expected results. And looking ahead, Carsten Menke, Head of Next Generation, shares his perspective on what the recent volatility means for precious metals and the path forward.

(00:00) - Introduction: Bernadette Anderko, Product & Investment Content

(00:28) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(05:13) - Making sense of the precious metals sell-off: Carsten Menke, Head of Next Generation Research

(09:48) - Closing remarks: Bernadette Anderko, Product & Investment Content

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Gold and silver plummeted in a historic sell-off amid volatility and margin calls, triggered by speculation of a hawkish Fed chief pick. Markets reel as global equities tumble this morning, while investors brace for key earnings and central bank decisions in a turbulent start to February. Our Chief Economist David Kohl shares his view on what to expect from a Warsh-led Fed. And Mensur Pocinci, Head of Technical Analysis, explains why the long-term trend in precious metals is still positive after the crash.

(00:00) - Introduction: Bernadette Anderko, Product & Investment Content

(00:31) - Markets wrap-up: Jan Bopp, Product & Investment Content

(05:23) - New Fed Chair: David Kohl, Chief Economist

(09:39) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis

(12:36) - Closing remarks: Bernadette Anderko, Product & Investment Content

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US equities were mixed yesterday, with investors rotating out of technology as Microsoft dropped sharply while Meta jumped. In Europe, SAP’s steep fall weighed on the DAX, while the Swiss market outperformed. Precious metals are experiencing extreme volatility after record highs, energy prices are rising amid escalating Middle East tensions, while markets also price in the growing likelihood that Kevin Warsh will become the next chairman of the US Federal Reserve. Tim Gagie, Head of FX Advisory Geneva, explains what to watch in an environment of historic precious‑metal volatility and dollar weakness.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:24) - Markets wrap-up: Mike Rauber, Product & Investment Content

(06:41) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva

(10:56) - Closing remarks: Helen Freer, Product & Investment Content

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The US Federal Reserve left rates unchanged and struck a data‑dependent tone, even as political pressure around the central bank intensifies. The S&P 500 briefly crossed 7,000 before paring gains, tech earnings from Meta, Microsoft and Tesla sent mixed signals after the close, and European markets fell on volatile moves in ASML and LVMH. The US dollar rebounded on comments from Treasury Secretary Bessent, while geopolitical tensions pushed oil higher and gold surged above USD 5,500 as silver and copper also reached record highs. Today we are joined by Carsten Menke, Head of Next Generation Research, for a timely update on precious metals and why fundamental analysis cannot explain the most recent moves upwards.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:27) - Markets wrap-up: Lucija Caculovic, Product & Investment Content

(06:31) - Precious metals: Carsten Menke, Head of Next Generation Research

(10:56) - Closing remarks: Helen Freer, Product & Investment Content

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A whirlwind week in global markets — and it’s only Wednesday. The dollar plunges, the Swiss franc hits multi‑year highs, and gold and silver seem unstoppable. Equity markets touch new records as investors brace for mega‑cap tech earnings and the Fed’s rate decision after market close today. Dario Messi, Head of Fixed Income Research, explains what he expects from the US central bank. A fast, lively breakdown of what’s moving markets — tune in!

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