2nd February 2026 – Precious Metals hammered as Trump nominates Chair and Inflation numbers hot

MPC Markets Morning Call · Feb 1, 2026 · 17m

In this edition of the MPC Markets Morning Call, Mark discusses the significant decline in precious metals, particularly silver, and the implications of Kevin Warsh's nomination as Fed chair. He analyzes market reactions, sector performances, and the historical context of precious metals movements, while also looking ahead to upcoming economic indicators and their potential impact on the market.

Takeaways

• Precious metals experienced their worst decline since 1921, with silver down 30%.

• The PPI numbers were unexpectedly high, indicating inflationary pressures.

• Kevin Warsh's nomination as…