📅 Recorded: Tuesday midday | 🎙️ Host: Simon Brown
This week on Worldwide Markets, we unpack a wild ride across commodities, central banks, tech titans, and global trade — with gold stealing the spotlight once again.
Gold went vertical — and then snapped back hard.
📈 Ran from around $4,300 → $5,600, before a brutal sell-off
📉 Dropped to $4,600, now stabilising near $4,900
🕯️ That giant red "kangaroo tail" candle looks ugly — but…
The bigger picture hasn't changed:
💵 Debasement trade still intact
🌍 Central banks bought ~800 tonnes last year
🏦 ETF investors were big buyers again after selling in 2024
➡️ Verdict: Likely consolidation, not collapse. Sideways is the base case.
Gold |Weekly | 03 February 2026
It wasn't just gold:
🔩 Copper, silver, platinum, palladium all surged
🛢️ Brent crude nearly hit $70
🪨 Aluminium hit US record prices, creating transatlantic arbitrage
Nothing goes straight up forever — profit-taking was inevitable.
Simon stays honest here:
❓ Industrial demand and price dislocations matter
⚠️ But silver remains complex and opaque
💡 Portfolio stance:
✅ Holding gold miners
✅ Holding gold ETFs (local & offshore)
❌ No silver exposure — and comfortable with that
Trump's Fed chair nominee spooked markets — but context matters:
🔄 Walsh is not a hawk, more a rate flip-flopper
🗳️ Previously opposed rate cuts… until Trump won
📉 Trump wants lower rates — Walsh says he'll deliver
The challenge?
🧠 Convincing the rest of the FOMC
🪑 Jerome Powell still has influence for now
➡️ Expect noise, not an instant policy pivot.
Big Elon energy this week:
🛰️ SpaceX acquires xAI
🧠 Grok + data + power + space = big ambitions
📊 IPO rumoured for mid-2026
💰 Valuation likely north of $1 trillion
Simon likes SpaceX… less excited by the social-media side.
January numbers surprised again:
📊 Sales near levels last seen in 2019 / early 2022
🏆 Toyota leads, but Chinese brands keep climbing
🇨🇳 Chery, GWM, JAC & friends reshaping the market
Consumers are still buying — despite high rates.
A deal was announced, but details are fuzzy:
📉 Tariffs reduced (somewhat)
🛢️ India supposedly to stop buying Russian oil (👀)
💸 India to buy $500bn of US goods (timeline unclear)
History lesson:
🌮 Trump tariff threats turn real only ~20% of the time
⚖️ Supreme Court still deciding if Trump even has the authority
➡️ Lots of headlines, fewer guarantees.
📅 19 February
📍 Rosebank (in-person) + webcast
💡 Topic: Tax-Free Investing & ETFs
👉 Book at justonelap.com/events
Markets are noisy, emotional, and fast — but the big-picture trends still matter more than the candles.
Until next week:
🤍 Look after yourself
🤍 And if you can, look after someone else too
Cheers! 🍻
