In this video, Ira Epstein covers the latest developments in the metals market, focusing on the volatility and significant price movements in gold, which has reached unprecedented levels.

In January 2026, PM Mark Carney slashed tariffs on 49,000 Chinese EVs to 6.1% to save Canada’s canola exports from 85% duties. Trump threatened a 100% retaliatory tariff on Canada, while GM’s CEO warned of a "slippery slope" for North American auto.

We’re witnessing another stunning day in the gold and silver markets, as the gold futures are currently up over $265 on the session, while both the silver futures and spot price are back above $115.

The Fed left monetary policy unchanged in a range between 3.5% and 3.75%, but the accompanying statement and press conference suggested the Fed is more confident that the policy easing cycle is close to a conclusion.