Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
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Another Monday morning, another surge in precious metals. Gold wasted absolutely no time pushing to a fresh record high of $4,600 per ounce this morning, once again opening the session with a sizeable gap. The same is true of silver, which opened over $80 per ounce and immediately pumped to $84, matching the record high from two weeks ago. Platinum and palladium were also in bid this morning, although remain short of the highs achieved in 2025. The situation in Iran appears to be the driving force behind the rise in precious metals this morning, as sweeping anti-government protests intensified over the weekend, culminating in hundreds of deaths according to some reports. President Trump said that Washington is considering “some very strong options” regarding the ongoing developments, but also confirmed that the Iranian leadership is willing to negotiate following threats of US military intervention. Recent events have also driven crude oil prices higher, although in the grand scheme of things the price action is hardly anything to write home about. The Brent Crude index managed to push back over $63 per barrel this morning, while WTI lags at around $59. Bitcoin meanwhile is showing minors signs of life today, but remains largely unfazed by such worldly affairs.
The US Department of Justice has served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment relating to the Fed Chairman’s testimony last June, according to a statement released by Jerome Powell late last night. The testimony in question relates to the project to renovate historic Federal Reserve buildings, estimated to cost around $2.5 billion, a figure that drew its fair share of criticism at the time. For many however, including Jerome Powell himself, the reasoning behind such legal pressure is almost irrelevant. In his statement, the Fed Chairman made it very clear that the latest action was merely a pretext, saying that the real reason the administration is going after the Fed is because of the interest rate decision made over the course of last year. President Trump has long criticised Jerome Powell for not lowering rates quickly enough, and the latest action against the Fed will be viewed as move to put more pressure on the central bank. The dollar is currently reacting poorly to the news, pushing the DXY back below 99 early this morning. A reminder that although Powell’s chairmanship expires in May, his membership on the board of governors continues until January 2028.
Very little on the economic calendar today, but Tuesday promises to deliver several interesting data points in the form of US inflation data, as well as some long-overdue home sales figures. On Wednesday, China will publish its latest balance of trade data, while later in the day the US will publish October and November PPI figures, followed by November retail sales – the backlog has not been cleared just yet. Thursday closes out the week with UK and German GDP data, as well as the regularly scheduled US jobless claims. The earnings calendar will perk up a bit this week, particularly for the financial sector, with JPMorgan Chase (JPM) reporting on Tuesday; Bank of America (BAC), Wells Fargo (WFC) and Citigroup (C) reporting on Wednesday; Goldman Sachs (GS), Morgan Stanley (MS) and Blackrock (BLK) reporting on Thursday. Taiwan Semiconductor (TSM) also reports on Thursday.
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