After a turbulent week marked by tensions over Greenland and Iran, the new week started with a bond sell-off and sharp moves in the yen. Japan’s Nikkei 225 index fell nearly 2%, losing 1,074 points to hit an intraday low of 53,846.87.Indian stock markets are also closed today and will resume trading on Tuesday.
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The yen strengthened 0.5% to 154.84 per dollar as of 0052 GMT after sharp spikes on Friday led to speculation about possible intervention, Reuters reported, adding that the New York Federal Reserve implemented interest rate controls on Friday, raising the likelihood of a joint intervention by the US and Japan to halt the currency’s decline.
“The cat-and-mouse game with the yen is likely to continue into the new week’s activity, but the one-way market has been broken, at least for now,” said Marc Chandler, chief market strategist at Bannockburn Capital Markets in New York. Commenting on current trends, commodities and currency analyst Anuj Gupta said global concerns remain high as US President Donald Trump warned on Saturday he would impose a 100% tariff on Canada if Ottawa goes ahead with a proposed trade deal with China. The metal’s rise on Monday underlines a broader risky mood.
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He expects a further uptrend in gold and silver, with gold testing the $5,200 levels in the near term, while silver reaching levels between $110 and $115.
February silver futures hit a intraday high of $108.78 an ounce and gained nearly 8% in intraday trading.
Meanwhile, Canadian Prime Minister Mark Carney made it clear on Sunday that his country has no intention of concluding a free trade deal with China. Carney said his recent deal with China only lowers tariffs for a few sectors that recently faced tariffs, AP reported.
Precious metal in 2026
Gold and silver prices have continued their strong performance from 2025 so far in 2026, despite trading in an overheated zone. While gold is up 18%, or $755, this year, the white metal’s rise has been nearly three times that of its shinier cousin. Silver prices are now up 51% or $36 an ounce, Gupta said.
What should investors do?
Commodity markets reopen on Tuesday with a gap-up, so Gupta recommends a wait-and-see strategy.
Investors’ attention this week will also turn to the Federal Reserve meeting, which starts on Tuesday.
Disclaimer: (Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)
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