Summary of Increased Spreads on Precious Metals

The article discusses the recent fluctuations in the precious metals market, particularly focusing on silver, gold, and platinum. As of February 5, 2026, silver has experienced a significant decline of 13.74%, trading at $77.342, while gold has also retreated by 0.7% to $4,926. Platinum futures have similarly lost 6% in value. This downturn in precious metals comes after a brief rebound in the previous sessions, indicating a volatile market environment.

Market Overview

The broader market context shows that U.S. index futures are in the red, with the Nasdaq 100 futures slightly recovering to above 25,000 after a slump. The article highlights Alphabet's strong earnings report, which included a revenue of $113.8 billion, driven by AI monetization and growth in Google Cloud. However, the company's ambitious capital expenditure plans for 2026, estimated between $175 billion and $185 billion, have raised concerns about short-term margin pressures, leading to a 1.9% drop in pre-market trading for Alphabet.

Global Market Reactions

Asian markets mirrored the declines seen on Wall Street, with South Korea's KOSPI dropping 4% due to significant losses in major tech stocks like Samsung and SK Hynix. The JP225 index also fell by 1.4%, although some gains were noted from positive earnings reports from companies like Panasonic and Renesas. In currency markets, the U.S. dollar continued to strengthen against G10 currencies, with notable declines in the Australian and New Zealand dollars.

Commodities and Cryptocurrencies

In the commodities sector, both Brent and WTI oil prices have reversed gains from the previous day, each down by 1%. Natural gas, however, has seen a third consecutive day of gains, increasing by 2%. The cryptocurrency market is also facing a sell-off, with Bitcoin dropping 2.1% to $70,900 and Ethereum down 1.3% to $2,090, approaching critical psychological support levels.

Conclusion

The article paints a picture of a turbulent market environment for precious metals, driven by broader economic factors and investor sentiment. The significant declines in silver, gold, and platinum reflect ongoing volatility, while the performance of tech stocks and currencies further illustrates the interconnectedness of global markets.