Weekly Markets Monitor
Weekly Markets Monitor - Soft floor?
Geopolitical tensions escalated last week, while economic data pointed to divergence. In the US, inflation softened; consumer demand and labor markets stayed resilient. In the Eurozone, the trade deficit widened and industrial production fell.
Weekly Markets Monitor
Weekly Markets Monitor - Jail break or head fake?
A data light shortened week in the US put the spotlight on Fed Chairman Warsh’s first meeting and a perceived ‘hawkish pause’. Sentiment was however aided by signing of a Memorandum of Understanding between the US and Iran.
Weekly Markets Monitor
Weekly Markets Monitor - Point of inflection
Last week was dominated by developments around US-Iran negotiations and strong US corporate earnings. Inflation pressures remain elevated across major economies, including Tokyo, the UK, Australia, and the US, though government subsidies helped soften the impact in some regions.
Unearthed Podcast
World Gold CouncilUnearthed: The New Macro Playbook ft Rebecca Patterson
In this episode of Unearthed, hosts Joe Cavatoni and John Reade sit down with Rebecca Patterson, globally respected macroeconomic investor, Vanguard board member, and Senior Fellow at the Council on Foreign Relations, to unpack the fast-moving and increasingly complex global economic landscape.
Weekly Markets Monitor
Weekly Markets Monitor - Fed policy in driver’s seat
Strong US economic data and upbeat corporate earnings contrasted with weakening consumer confidence in the US and Europe last week. Uncertainties around the US–Iran conflict remained key in influencing market sentiment.
Weekly Markets Monitor
Weekly Markets Monitor - Light relief
Geopolitics remained in focus last week, with signs of de-escalation between the US and Iran, boosting market sentiment. Better-than-expected economic updates across the US, Europe and China, alongside upbeat Q1 US corporate earnings further supported global markets.
Juan Carlos Artigas
Regional CEO (Americas) and Global Head of Research World Gold CouncilRay Jia
Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold CouncilTaylor Burnette
Research Lead, Americas World Gold CouncilYou asked, we answered: Has gold's performance structurally changed?
Gold’s volatility has markedly increased in 2026; however, similar episodes have occurred in periods of risk with volatility usually normalising within a few months. Bid-ask spreads have also notably risen since 2024; however, barring unusually high spikes in off market hours, the gold market still offers sizable liquidity through record trading volumes and two-way market activity. Amid a visible increase in the bond-equity correlation, gold remains a valuable strategic asset and portfolio diversifier even when accounting for its higher volatility environment.
Weekly Markets Monitor
Weekly Markets Monitor - 21 tonne salute
In a holiday-shortened and geo-politically volatile week, economic data came in stronger than expected—US jobs, manufacturing, retail sales, and confidence all beat forecasts. China showed improving economic momentum and India’s manufacturing output rose. At the same time, in the Eurozone, price pressures from the surge in energy costs are emerging.
Weekly Markets Monitor
Weekly Markets Monitor - Conflict pressure mounts
Geopolitics and rising energy prices dominated markets last week, raising stagflation concerns. Early signs of fallout from the Middle East conflict are emerging, with softer PMIs across several economies. In the US, consumer sentiment weakened as inflation expectations rose. UK inflation held steady in February but faces upward pressure from higher energy costs, while Japan’s inflation eased on subsidies. China’s industrial profits rose, pointing to a firmer recovery
Weekly Markets Monitor
Weekly Markets Monitor - Testing gold’s resolve
Last week was marked by major central bank meetings and escalating geopolitical tensions. Most central banks, including the Fed, ECB, BoE, BoJ, held rates steady but highlighted rising inflation risks and signaled a hawkish bias, while the RBA hiked. Economic data was mixed, stronger in China but weaker across other major economies.
Weekly Markets Monitor
Weekly Markets Monitor - Credit, where credit’s due
Global markets faced a turbulent week as the West Asian conflict added to existing economic uncertainty. Economic data pointed to moderating US growth, flat UK GDP, and a sharp drop in Eurozone industrial production, while China continued to post large trade surpluses.
Weekly Markets Monitor
Weekly Markets Monitor - What gives: oil or yields?
Global markets remained under pressure last week. In the US, unexpected job losses, rising unemployment and weaker retail sales pointed to softening momentum, while private credit concerns persisted and the VIX rose. Eurozone inflation surprised on the upside amid risks from rising oil prices.
