By Chelsey Dulaney
Markets kicked off February with another roller-coaster ride in metals.
Silver recently stood about 2% higher, rebounding after a steep decline in Asian trading hours. Gold futures pared earlier losses to trade modestly lower at around $4,700 a troy ounce.
Metals have been in focus after a monthslong rally, fueled in part by individual investors, went violently into reverse late last week. The rout spilled over into other markets, knocking mining stocks and riskier assets like bitcoin, which sank over the weekend to lows last seen during last April's tariff turmoil.
While metals and bitcoin showed signs of stabilizing early Monday, tech stocks remained under pressure. Nasdaq-100 futures fell nearly 1%. Earnings from bellwethers like Microsoft have revived concerns about AI spending. Alphabet and Amazon.com are set to report results this week.
Oil retreated. Over the weekend, President Trump said he believes Iran is negotiating seriously with the U.S. Benchmark Brent crude futures fell more than 4%, dropping toward $66 a barrel.
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(END) Dow Jones Newswires
February 02, 2026 05:50 ET (10:50 GMT)
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