Volatility Returns as Metals Rally and Rates Hold
ith the Bank of Canada and the U.S. Federal Reserve keeping rates unchanged, investors are turning their focus to policy signals that could shape expectations in the weeks ahead.

After a strong surge in precious metals, markets are adjusting to a pullback as gold and silver remain historically elevated. With the Bank of Canada and the U.S. Federal Reserve keeping rates unchanged, investors are turning their focus to policy signals that could shape expectations in the weeks ahead.
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Here's how some major markets/indexes performed in the last 5-days:
- Dow Jones: 48,648 (-1.00%)
- Nasdaq 100: 25,556 (-0.29%)
- TSX: 31,751 (-4.46%)
- BTC: 88,282 (-3.81%)
- Ethereum: 2,709 (-3.78%)
(USD)
As of 01/30/2026 at 11:00AM PST
Gold and Silver Pull Back After a Strong Run
Catch Up
Gold and silver capped a strong week after pushing to elevated price levels, driven by sustained demand for hard assets. Both metals posted significant gains before seeing a sharp pullback in the latest session.
What Happened
- Gold surged toward new highs above the US $5,000 per ounce level, while silver climbed above US $100 earlier in the week.
- A wave of profit-taking triggered a broad sell-off across metals, pulling prices lower in short order.
- The move followed an extended rally and reflected positioning adjustments rather than a shift in underlying demand.
Why It Matters
Short-term pullbacks are common after rapid price increases, particularly in commodities. Despite the recent decline, gold and silver remain at historically elevated levels, reinforcing their role as portfolio hedges amid ongoing economic and geopolitical uncertainty. For investors, the broader trend points to continued strength rather than a breakdown in the metals trade.

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Central Banks Set the Tone on Rates
Catch Up
Markets are focused on central bank guidance today as both the Bank of Canada and the U.S. Federal Reserve deliver interest rate decisions and updated commentary on economic conditions.
What Happened
- The Bank of Canada held its key policy rate at 2.25% and released its latest Monetary Policy Report, updating its outlook on inflation, growth, and external risks.
- The U.S. Federal Reserve is also keeps rates unchanged as well, with Chair Jerome Powell’s comments likely to drive the market reaction more than the decision itself.
Why It Matters
Even when rates stay put, central bank messaging can shift expectations for the next move. Today’s tone around inflation progress, labour conditions, and trade-related risks may influence bond yields, currencies, and rate-sensitive sectors like real estate and financials. For investors, the details in the statements and pressers often matter more than the headline decision.

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📢 This Week's Selected Company News:
LongPoint and Humilis Partner to Launch Funds in Canada
LongPoint Asset Management and Humilis Investment Strategies announced a partnership to introduce a new suite of mutual funds and ETFs in Canada, subject to regulatory approval. The collaboration combines LongPoint’s fund-management platform with Humilis’ investment approach, aiming to give Canadian investors access to differentiated strategies under the Humilis brand. The expected launch is slated for early second quarter 2026, offering expanded options for portfolio diversification.
Talks Surface Around Musk-Led Tech Reorganization
Discussion has emerged about a potential corporate reorganization involving several Elon Musk-led technology companies, including SpaceX, Tesla, and xAI, as executives explore ways to streamline operations and unlock shareholder value. While no definitive transaction or timeline has been confirmed, the talks include considerations around aligning business units and evaluating paths to public offerings for certain divisions. Market watchers are paying attention to how any structural changes could influence innovation priorities and investor access to high-growth segments of Musk’s technology portfolio.
Chevron Delivers Earnings Beat, Eyes Expansion Opportunities
Chevron reported fourth-quarter results that came in above market expectations, supported by operational momentum and disciplined cost management. The company also signaled interest in expanding its footprint in markets such as Venezuela, where opportunities could emerge as geopolitical conditions evolve. With production growth targets in place and a 4 % quarterly dividend increase, Chevron’s results and strategic commentary aim to balance near-term performance with longer-term resource development prospects.
📬 That’s a wrap for this week!
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Trade tides shift and gold chills
2026 is already setting the pace. Canada struck a breakthrough trade agreement with China, easing tariffs and opening key lanes for agri-exports and electric vehicles, a move that could reshape cross-Pacific commerce. Meanwhile, gold took a healthy pause after a record-setting run, as upbeat U.S. data lifted the dollar and brought rate cut expectations back down to earth. Investors are watching closely, and so are we.




