Silver reached $99 per ounce. Natural gas jumped 70% in a week

By JustMarkets 

On Thursday, the US stock market rose steadily amid easing geopolitical tensions and encouraging macroeconomic data. By the end of the day, the Dow Jones (US30) increased by 0.63%. The S&P 500 (US500) gained 0.55%. The tech-heavy Nasdaq (US100) closed higher by 0.91%. President Donald Trump backed away from new tariff threats against Europe and outlined the framework for a future agreement regarding Greenland. The primary growth drivers were tech giants: Meta shares jumped 5.7%, Microsoft added 1.5%, Amazon 1.3%, Nvidia 0.8%, Alphabet 0.8%, and Apple 0.3%. The macroeconomic backdrop also supported risk appetite. Data showed a revision of US GDP growth for Q3 upward to 4.4%, initial jobless claims remained near 200,000, PCE inflation matched expectations, and consumer spending remained resilient. Collectively, this reduced concerns about the need for immediate monetary policy easing and bolstered investor confidence in the resilience of the US economy.

European equity markets rose yesterday. The German DAX (DE40) rose by 1.20%, the French CAC 40 (FR40) closed up 0.99%, the Spanish IBEX 35 (ES35) gained 1.28%, and the British FTSE 100 (UK100) finished positive 0.12%. The rebound occurred as sentiment improved across European markets after US President Donald Trump suspended tariff threats following a meeting with NATO Secretary General Mark Rutte. According to sources, talks in Davos led to an agreement to resume dialogue between the US and Denmark regarding the 1951 defense agreement related to Greenland, easing fears of further escalation. Major banking companies led the gains: Deutsche Bank, BNP Paribas, UniCredit, and Santander added between 3% and 4%.

The Swiss franc (CHF) traded near 0.79 per US dollar, remaining close to its strongest level since 2011, amid a steady, albeit moderate, inflow into safe-haven assets. After maintaining the key interest rate at 0% for two consecutive meetings, SNB officials signaled that cutting rates below zero carries significant risks. In the near term, markets expect neither easing nor tightening of monetary policy.

On Friday, silver (XAG) jumped nearly 3% to $99 per ounce, reaching new record highs as a weakening dollar provided additional support for precious metal prices. Investors fear that Europe may use its significant assets in the US as a retaliatory measure over the Greenland issue. The surge in silver prices was also driven by a historic short squeeze and active buying by retail investors, as well as tightening export controls from China.

WTI crude oil prices continued to decline on Thursday, dropping toward $59 per barrel amid growing concerns about a global supply glut. The International Energy Agency (IEA) reiterated that oil supply is expected to significantly exceed demand this year, despite a slight upward revision to the consumption growth projections. Additional pressure came from US Energy Information Administration (EIA) data showing a 3.6 million barrel increase in commercial crude inventories for the week ending January 16, significantly exceeding market expectations of a roughly 1 million barrel increase.

Severe freezing weather triggered a historic spike in US natural gas (XNG) prices, which rose above $5.53 per MMBtu, approaching levels last seen in December 2022. The sharp rise in quotes is linked to prognoses of extreme cold, which intensified expectations of a surge in demand while simultaneously increasing the risk of supply disruptions. US natural gas prices are showing a gain of more than 70% for the week, marking the sharpest weekly price jump since 1990.

Asian markets mostly rose yesterday. Japan’s Nikkei 225 (JP225) jumped 1.73%, China’s FTSE China A50 (CHA50) fell 0.28%, Hong Kong’s Hang Seng (HK50) gained 0.17%, and Australia’s ASX 200 (AU200) posted a positive result of 0.75%. The New Zealand dollar (NZD) declined to around $0.592 following higher-than-expected inflation data. In the fourth quarter, annual CPI growth accelerated to 3.1%, exceeding both the 3% prognosis and the Reserve Bank of New Zealand’s (RBNZ) target range, reaching its highest level since Q2 2024. Although the regulator still expects inflation to slow to 2% within the year, the strong figures reinforced the view that the policy easing cycle has concluded and increased the likelihood of interest rate hikes.

S&P 500 (US500) 6,913.35 +37.73 (+0.55%)

Dow Jones (US30) 49,384.01 +306.78 (+0.63%)

DAX (DE40) 24,856.47 +295.49 (+1.20%)

FTSE 100 (UK100) 10,150.05 +11.96 (+0.12%)

USD Index 98.31 -0.45% (-0.45%)

News feed for: 2026.01.23

  • Australia Manufacturing PMI (m/m) at 00:00 (GMT+2); – AUD (MED)
  • Australia Services PMI (m/m) at 00:00 (GMT+2); – AUD (MED)
  • Japan National Core Consumer Price Index (m/m) at 01:30 (GMT+2); – JPY (MED)
  • Japan Manufacturing PMI (m/m) at 02:30 (GMT+2); – JPY (MED)
  • Japan Services PMI (m/m) at 02:30 (GMT+2); – JPY (MED)
  • Japan BOJ Policy Rate at 05:00 (GMT+2); – JPY (HIGH)
  • Japan Monetary Policy Statement at 05:00 (GMT+2); – JPY (HIGH)
  • Japan BOJ Outlook Report at 05:00 (GMT+2); – JPY (HIGH)
  • Singapore Inflation Rate at 07:00 (GMT+2); – SGD (MED)
  • UK Retail Sales (m/m) at 09:00 (GMT+2); – GBP (MED)
  • Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+2); – EUR (MED)
  • Eurozone Services PMI (m/m) at 11:00 (GMT+2); – EUR (MED)
  • UK Manufacturing PMI (m/m) at 11:30 (GMT+2); – GBP (MED)
  • UK Services PMI (m/m) at 11:30 (GMT+2); – GBP (MED)
  • Eurozone ECB President Lagarde Speech at 12:00 (GMT+2); – EUR (LOW)
  • Canada Retail Sales (m/m) at 15:30 (GMT+2); – CAD (MED)
  • US Manufacturing PMI (m/m) at 16:45 (GMT+2); – USD (MED)
  • US Services PMI (m/m) at 16:45 (GMT+2); – USD (MED)
  • US Michigan Inflation Expectations (m/m) at 17:00 (GMT+2). – USD (MED)

By JustMarkets

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

USD/JPY Continues Its Uptrend as Yen Weakens Further

By RoboForex Analytical Department

USD/JPY rose to 158.61 on Friday, continuing its upward movement as the yen remains under pressure. Investors are adopting a wait-and-see approach ahead of the Bank of Japan’s (BOJ) monetary policy decision.

The BOJ recently kept rates unchanged after a hike to 0.75% in December – ** the highest level in nearly 30 years. Market participants are now focusing on comments from BOJ Governor Kazuo Ueda for clues on the timing of the next rate hike, especially amid the yen’s persistent weakness.

Recent data showed a slowdown in core inflation in December, but it remains above the BOJ’s 2% target. Additionally, fiscal risks have added pressure on the yen, as Prime Minister Sanae Takaichi prepares to dissolve parliament and call early elections, a move aimed at consolidating power and promoting fiscal expansion.

As USD/JPY approaches the psychologically significant 160 level, market expectations of possible currency intervention are growing, leading to increased caution among traders.

Technical Analysis

On the H4 chart, USD/JPY has formed a consolidation range around 158.50. The breakout to the upside has opened the potential for a rise to 160.00. After reaching this level, a potential decline to 158.00 may occur. The MACD indicator supports this bullish scenario, with its signal line above zero and pointing upward.

On the H1 chart, a growth wave structure is forming towards 159.30, with a possible correction to 158.70 before continuing the ascent to 160.00. This scenario is confirmed by the Stochastic oscillator, whose signal line is above 50 and pointing towards 80.

Conclusion

USD/JPY continues to rise, driven by the yen’s weakness and market expectations of further BOJ rate hikes. As the pair approaches the 160 level, the potential for currency intervention increases, keeping market participants cautious. Technically, the upward trend remains intact, with key levels to watch at 160.00 and 158.00.

 

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

AI-induced cultural stagnation is no longer speculation − it’s already happening

By Ahmed Elgammal, Rutgers University 

Generative AI was trained on centuries of art and writing produced by humans.

But scientists and critics have wondered what would happen once AI became widely adopted and started training on its outputs.

A new study points to some answers.

In January 2026, artificial intelligence researchers Arend Hintze, Frida Proschinger Åström and Jory Schossau published a study showing what happens when generative AI systems are allowed to run autonomously – generating and interpreting their own outputs without human intervention.

The researchers linked a text-to-image system with an image-to-text system and let them iterate – image, caption, image, caption – over and over and over.

Regardless of how diverse the starting prompts were – and regardless of how much randomness the systems were allowed – the outputs quickly converged onto a narrow set of generic, familiar visual themes: atmospheric cityscapes, grandiose buildings and pastoral landscapes. Even more striking, the system quickly “forgot” its starting prompt.

The researchers called the outcomes “visual elevator music” – pleasant and polished, yet devoid of any real meaning.

For example, they started with the image prompt, “The Prime Minister pored over strategy documents, trying to sell the public on a fragile peace deal while juggling the weight of his job amidst impending military action.” The resulting image was then captioned by AI. This caption was used as a prompt to generate the next image.

After repeating this loop, the researchers ended up with a bland image of a formal interior space – no people, no drama, no real sense of time and place.

A collage of AI-generated images that begins with a politician surrounded by policy papers and progresses to a room with fancy red curtains.
A prompt that begins with a prime minister under stress ends with an image of an empty room with fancy furnishings.
Arend Hintze, Frida Proschinger Åström and Jory Schossau, CC BY

As a computer scientist who studies generative models and creativity, I see the findings from this study as an important piece of the debate over whether AI will lead to cultural stagnation.

The results show that generative AI systems themselves tend toward homogenization when used autonomously and repeatedly. They even suggest that AI systems are currently operating in this way by default.

The familiar is the default

This experiment may appear beside the point: Most people don’t ask AI systems to endlessly describe and regenerate their own images. The convergence to a set of bland, stock images happened without retraining. No new data was added. Nothing was learned. The collapse emerged purely from repeated use.

But I think the setup of the experiment can be thought of as a diagnostic tool. It reveals what generative systems preserve when no one intervenes.

This has broader implications, because modern culture is increasingly influenced by exactly these kinds of pipelines. Images are summarized into text. Text is turned into images. Content is ranked, filtered and regenerated as it moves between words, images and videos. New articles on the web are now more likely to be written by AI than humans. Even when humans remain in the loop, they are often choosing from AI-generated options rather than starting from scratch.

The findings of this recent study show that the default behavior of these systems is to compress meaning toward what is most familiar, recognizable and easy to regenerate.

Cultural stagnation or acceleration?

For the past few years, skeptics have warned that generative AI could lead to cultural stagnation by flooding the web with synthetic content that future AI systems then train on. Over time, the argument goes, this recursive loop would narrow diversity and innovation.

Champions of the technology have pushed back, pointing out that fears of cultural decline accompany every new technology. Humans, they argue, will always be the final arbiter of creative decisions.

What has been missing from this debate is empirical evidence showing where homogenization actually begins.

The new study does not test retraining on AI-generated data. Instead, it shows something more fundamental: Homogenization happens before retraining even enters the picture. The content that generative AI systems naturally produce – when used autonomously and repeatedly – is already compressed and generic.

This reframes the stagnation argument. The risk is not only that future models might train on AI-generated content, but that AI-mediated culture is already being filtered in ways that favor the familiar, the describable and the conventional.

Retraining would amplify this effect. But it is not its source.

This is no moral panic

Skeptics are right about one thing: Culture has always adapted to new technologies. Photography did not kill painting. Film did not kill theater. Digital tools have enabled new forms of expression.

But those earlier technologies never forced culture to be endlessly reshaped across various mediums at a global scale. They did not summarize, regenerate and rank cultural products – news stories, songs, memes, academic papers, photographs or social media posts – millions of times per day, guided by the same built-in assumptions about what is “typical.”

The study shows that when meaning is forced through such pipelines repeatedly, diversity collapses not because of bad intentions, malicious design or corporate negligence, but because only certain kinds of meaning survive the text-to-image-to-text repeated conversions.

This does not mean cultural stagnation is inevitable. Human creativity is resilient. Institutions, subcultures and artists have always found ways to resist homogenization. But in my view, the findings of the study show that stagnation is a real risk – not a speculative fear – if generative systems are left to operate in their current iteration.

They also help clarify a common misconception about AI creativity: Producing endless variations is not the same as producing innovation. A system can generate millions of images while exploring only a tiny corner of cultural space.

In my own research on creative AI, I found that novelty requires designing AI systems with incentives to deviate from the norms. Without it, systems optimize for familiarity because familiarity is what they have learned best. The study reinforces this point empirically. Autonomy alone does not guarantee exploration. In some cases, it accelerates convergence.

This pattern already emerged in the real world: One study found that AI-generated lesson plans featured the same drift toward conventional, uninspiring content, underscoring that AI systems converge toward what’s typical rather than what’s unique or creative.

Lost in translation

Whenever you write a caption for an image, details will be lost. Likewise for generating an image from text. And this happens whether it’s being performed by a human or a machine.

In that sense, the convergence that took place is not a failure that’s unique to AI. It reflects a deeper property of bouncing from one medium to another. When meaning passes repeatedly through two different formats, only the most stable elements persist.

But by highlighting what survives during repeated translations between text and images, the authors are able to show that meaning is processed inside generative systems with a quiet pull toward the generic.

The implication is sobering: Even with human guidance – whether that means writing prompts, selecting outputs or refining results – these systems are still stripping away some details and amplifying others in ways that are oriented toward what’s “average.”

If generative AI is to enrich culture rather than flatten it, I think systems need to be designed in ways that resist convergence toward statistically average outputs. There can be rewards for deviation and support for less common and less mainstream forms of expression.

The study makes one thing clear: Absent these interventions, generative AI will continue to drift toward mediocre and uninspired content.

Cultural stagnation is no longer speculation. It’s already happening.The Conversation

About the Author:

Ahmed Elgammal, Professor of Computer Science and Director of the Art & AI Lab, Rutgers University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

 

Companies are already using agentic AI to make decisions, but governance is lagging behind

By Murugan Anandarajan, Drexel University 

Businesses are acting fast to adopt agentic AI – artificial intelligence systems that work without human guidance – but have been much slower to put governance in place to oversee them, a new survey shows. That mismatch is a major source of risk in AI adoption. In my view, it’s also a business opportunity.

I’m a professor of management information systems at Drexel University’s LeBow College of Business, which recently surveyed more than 500 data professionals through its Center for Applied AI & Business Analytics. We found that 41% of organizations are using agentic AI in their daily operations. These aren’t just pilot projects or one-off tests. They’re part of regular workflows.

At the same time, governance is lagging. Only 27% of organizations say their governance frameworks are mature enough to monitor and manage these systems effectively.

In this context, governance is not about regulation or unnecessary rules. It means having policies and practices that let people clearly influence how autonomous systems work, including who is responsible for decisions, how behavior is checked, and when humans should get involved.

This mismatch can become a problem when autonomous systems act in real situations before anyone can intervene.

For example, during a recent power outage in San Francisco, autonomous robotaxis got stuck at intersections, blocking emergency vehicles and confusing other drivers. The situation showed that even when autonomous systems behave “as designed,” unexpected conditions can lead to undesirable outcomes.

This raises a big question: When something goes wrong with AI, who is responsible – and who can intervene?

Why governance matters

When AI systems act on their own, responsibility no longer lies where organizations expect it. Decisions still happen, but ownership is harder to trace. For instance, in financial services, fraud detection systems increasingly act in real time to block suspicious activity before a human ever reviews the case. Customers often only find out when their card is declined.

So, what if your card is mistakenly declined by an AI system? In that situation, the problem isn’t with the technology itself – it’s working as it was designed – but with accountability. Research on human-AI governance shows that problems happen when organizations don’t clearly define how people and autonomous systems should work together. This lack of clarity makes it hard to know who is responsible and when they should step in.

Without governance designed for autonomy, small issues can quietly snowball. Oversight becomes sporadic and trust weakens, not because systems fail outright, but because people struggle to explain or stand behind what the systems do.

When humans enter the loop too late

In many organizations, humans are technically “in the loop,” but only after autonomous systems have already acted. People tend to get involved once a problem becomes visible – when a price looks wrong, a transaction is flagged or a customer complains. By that point, the system has already been decided, and human review becomes corrective rather than supervisory.

Late intervention can limit the fallout from individual decisions, but it rarely clarifies who is accountable. Outcomes may be corrected, yet responsibility remains unclear.

Recent guidance shows that when authority is unclear, human oversight becomes informal and inconsistent. The problem is not human involvement, but timing. Without governance designed upfront, people act as a safety valve rather than as accountable decision-makers.

How governance determines who moves ahead

Agentic AI often brings fast, early results, especially when tasks are first automated. Our survey found that many companies see these early benefits. But as autonomous systems grow, organizations often add manual checks and approval steps to manage risk.

Over time, what was once simple slowly becomes more complicated. Decision-making slows down, work-arounds increase, and the benefits of automation fade. This happens not because the technology stops working, but because people never fully trust autonomous systems.

This slowdown doesn’t have to happen. Our survey shows a clear difference: Many organizations see early gains from autonomous AI, but those with stronger governance are much more likely to turn those gains into long-term results, such as greater efficiency and revenue growth. The key difference isn’t ambition or technical skills, but being prepared.

Good governance does not limit autonomy. It makes it workable by clarifying who owns decisions, how systems function is monitored, and when people should intervene. International guidance from the OECD – the Organization for Economic Cooperation and Development – emphasizes this point: Accountability and human oversight need to be designed into AI systems from the start, not added later.

Rather than slowing innovation, governance creates the confidence organizations need to extend autonomy instead of quietly pulling it back.

The next advantage is smarter governance

The next competitive advantage in AI will not come from faster adoption, but from smarter governance. As autonomous systems take on more responsibility, success will belong to organizations that clearly define ownership, oversight and intervention from the start.

In the era of agentic AI, confidence will accrue to the organizations that govern best, not simply those that adopt first.The Conversation

About the Author:

Murugan Anandarajan, Professor of Decision Sciences and Management Information Systems, Drexel University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

 

Trump ruled out the use of military force to acquire Greenland. Natural gas prices jumped 20%

By JustMarkets

The US stocks closed sharply higher on Wednesday, paring some of the previous session’s losses, after markets reacted positively to President Donald Trump’s statement at the World Economic Forum in Davos, where he ruled out the use of military force to acquire Greenland. By the end of the day, the Dow Jones (US30) rose by 1.26%. The S&P 500 (US500) climbed 1.16%. The tech-heavy Nasdaq (US100) closed higher by 1.18%. The technology sector was the primary driver of the growth: shares of AMD, Intel, and Micron jumped between 6% and 12%, while broader market segments also stabilized as fears of a sharp escalation in tensions between the US and Europe eased. However, uncertainty has not entirely vanished, as Trump reaffirmed his commitment to seeking control over Greenland and maintained the threat of economic pressure on European allies.

European equity markets traded with mixed performance yesterday. The German DAX (DE40) fell by 0.58%, the French CAC 40 (FR40) closed up 0.08%, the Spanish IBEX 35 (ES35) rose by 0.06%, and the British FTSE 100 (UK100) closed at positive 0.11%. The US President Donald Trump ruled out the use of military force to acquire Greenland and backed away from previously proposed tariffs on European countries, announcing the achievement of a framework for a future agreement with NATO, the details of which remain uncertain. At the same time, Denmark confirmed it has no intention of discussing the transfer of its territory to the US, and the European Parliament suspended the approval process for the EU-US trade agreement reached in July, maintaining a high level of uncertainty.

On Thursday, platinum (XPT) and silver (XAG) prices fell by more than 3%, retreating from all-time highs amid a general easing of precious metal prices.
WTI crude oil prices partially recovered their losses on Wednesday, rising toward the $60.5 per barrel level. Market sentiment improved following Trump’s comments in Davos, although tensions between the US and the EU persist, and the trade agreement remains frozen after the European Parliament suspended the ratification vote. Prices received additional support from revised expectations by the International Energy Agency, which raised its estimate for global oil demand growth in 2026 and slightly lowered expectations regarding the scale of the supply surplus.

Daily trading volume for US gas futures on the CME exchange broke an all-time record yesterday. On Wednesday, the US natural gas prices jumped more than 20% to $4.7 per MMBtu, continuing a sharp rally following a roughly 26% gain earlier in the week. Weather prognosis has shifted dramatically toward significant cooling. Updated expectations for the long holiday weekend indicate a deep and massive Arctic intrusion that will cover a large part of the country in the coming weeks.

Asian markets were mostly lower yesterday. Japan’s Nikkei 225 (JP225) fell by 0.41%, China’s FTSE China A50 (CHA50) dropped 0.35%, Hong Kong’s Hang Seng (HK50) rose by 0.37%, and Australia’s ASX 200 (AU200) posted a negative result of 0.37%.

On Thursday, the Australian dollar (AUD) strengthened to around $0.679, nearing a sixteen-month high, as easing tensions between the US and Europe improved global risk appetite, and strong labor market data bolstered expectations for policy tightening by the Reserve Bank of Australia (RBA). Statistics showed that employment rose by 65,200 in December, significantly exceeding expectations, while the unemployment rate unexpectedly fell to a seven-month low of 4.1%. Against this backdrop, markets sharply revised rate expectations, increasing the probability of a 25-basis-point hike at the February 3 meeting from 27% to 54%, while such a hike is already fully priced in by May.

The New Zealand dollar (NZD) strengthened to around $0.585, reaching a four-month high, ahead of the release of the fourth-quarter Consumer Price Index report on Friday, which could clarify the monetary policy outlook for the Reserve Bank of New Zealand. Annual inflation is expected to accelerate to 3%, reaching the upper bound of the RBNZ’s 1-3% target range, and any stronger reading could bolster the case for interest rate hikes. Recent macroeconomic data point to a steady economic recovery in the country, strengthening expectations that the regulator could move toward policy tightening later in the year.

S&P 500 (US500) 6,875.62 +78.76 (+1.16%)

Dow Jones (US30) 49,077.23 +588.64 (+1.21%)

DAX (DE40) 24,560.98 −142.14 (−0.58%)

FTSE 100 (UK100) 10,138.09 +11.31 (+0.11%)

USD Index 98.78 +0.14% (+0.14%)

News feed for: 2026.01.22

  • Japan Trade Balance (m/m) at 01:50 (GMT+2); – JPY (LOW)
  • Australia Unemployment Rate (m/m) at 02:30 (GMT+2); – AUD (MED)
  • Hong Kong Inflation Rate (m/m) at 10:30 (GMT+2); – HK50 (MED)
  • Norway Norges Bank Interest Rate Decision at 11:00 (GMT+2); – NOK (HIGH)
  • US GDP (m/m) at 15:30 (GMT+2); – USD (MED)
  • US Initial Jobless Claims (w/w) at 15:30 (GMT+2); – USD (MED)
  • US Core PCE Price Index (m/m) at 17:00 (GMT+2); – USD (HIGH)
  • US Natural Gas Storage (w/w) at 17:30 (GMT+2); – XNG (HIGH)
  • US Crude Oil Reserves (w/w) at 19:00 (GMT+2); – WTI (HIGH)
  • New Zealand Inflation Rate (q/q) at 23:45 (GMT+2). – NZD (HIGH)

By JustMarkets

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Gold Hits Record High: Geopolitical Tensions and Market Instability Fuel Growth

By RoboForex Analytical Department

On Tuesday, gold prices surged to around 4670 USD per ounce, reaching a new record. This price movement comes amid rising demand for safe-haven assets, driven by the escalating trade disputes between the US and the EU.

Recent reports indicate that Denmark is bolstering its military presence in Greenland, following US President Donald Trump’s threats to use force to establish control over the island. Additionally, Trump has threatened to impose a 10% import tariff on goods from eight European countries starting 1 February, with the possibility of increasing the rate to 25% by June if the US is not permitted to purchase Greenland. This has raised concerns within the EU, prompting an emergency summit this Thursday to discuss possible countermeasures.

The delayed release of the US Personal Consumption Expenditures (PCE) index this week is also drawing attention, as it could provide further clarity on inflation trends and the future direction of US monetary policy.

Gold’s strong performance this year is further fuelled by inflows into defensive assets amid geopolitical tensions surrounding Venezuela and Iran, as well as ongoing concerns about the US Federal Reserve’s autonomy.

Technical Analysis:

On the H4 XAUUSD chart, gold is pushing through its fifth wave of growth, with the 4,800 level as the next target. After reaching this level, we anticipate a potential pullback towards 4,660. The MACD indicator supports this upward momentum, as its signal line remains at highs, pointing upward.

On the H1 chart, the price has broken through the 4,717 level, forming a consolidation range around it. The trend is likely to continue towards 4,800, with the Stochastic oscillator confirming this bullish outlook, as the signal line remains below 20 and under upward pressure.

Conclusion:

Gold continues to hit new highs, driven by geopolitical tensions and market instability. With ongoing risks in trade relations and concerns about US monetary policy, the demand for defensive assets such as gold remains strong. Technically, gold’s momentum is expected to continue upward, potentially reaching 4,800 before any correction.

 

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Mid-Week outlook: Gold hits ATH, Trump in Davos, NatGas surges

By ForexTime 

  • Gold hits fresh record above $4885
  • Trump lands in Davos for speech – Greenland in focus
  • Natgas gains over 50% since last Friday
  • Bitcoin under pressure below $90,000

It’s been an intense week marked by geopolitical tensions and extreme market volatility.

Markets seem to be stabilizing ahead of Trump’s speech in Davos, with a rebound in long-dated Japanese bonds lifting risk appetite.

Trump is expected to speak at 1:30 PM GMT about the US economy, the international “Board of Peace”, and most importantly, Greenland negotiations.

Should he strike a more conciliatory tone and retract initial threats, this could lift overall market sentiment.

In the commodities space, gold surged to a fresh all-time high above $4885 – pushing 2026 gains to over 13%.

It’s been a flat week for silver thus far, but it remains a champion in the precious metal space, up over 30% year-to-date.

With geopolitical flashpoints across the globe accelerating the flight to safety, the path of least resistance for gold remains north.

Beyond geopolitics, central bank buying and prospects of lower US rates are likely to keep gold/silver bulls in the game.

Speaking of bulls, natural gas has experienced an explosive rally, surging over 50% since last Friday to reach $4.8/MMBtu – its highest level in five weeks.

This rally was sparked by extreme weather forecasts: NOAA has issued warnings for severe cold and winter storms across the US through late January, which is set to sharply boost heating demand.

Looking at cryptos, Bitcoin remains under pressure with prices trading below $90,000.

Overall market caution has contributed to the recent selloff, with weakness below $87,500 signaling a further decline toward $83,000 and $77,500.


 

Forex-Time-LogoArticle by ForexTime

 

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Despite its steep environmental costs, AI might also help save the planet

By Nir Kshetri, University of North Carolina – Greensboro 

The rapid growth of artificial intelligence has sharply increased electricity and water consumption, raising concerns about the technology’s environmental footprint and carbon emissions. But the story is more complicated than that.

I study emerging technologies and how their development and deployment influence economic, institutional and societal outcomes, including environmental sustainability. From my research, I see that even as AI uses a lot of energy, it can also make systems cleaner and smarter.

AI is already helping to save energy and water, cut emissions and make businesses more efficient in agriculture, data centers, the energy industry, building heating and cooling, and aviation.

Agriculture

Agriculture is responsible for nearly 70% of the world’s freshwater use, and competition for water is growing.

AI is helping farmers use water more efficiently. Argentinian climate tech startup Kilimo, for example, tackles water scarcity with an AI-powered irrigation platform. The software uses large amounts of data, machine learning, and weather and satellite measurements to determine when and how much to water which areas of fields, ensuring that only the plants that actually need water receive it.

Chile’s Ministry of Agriculture has found that in that country’s Biobío region, farms using Kilimo’s precision irrigation systems have reduced water use by up to 30% while avoiding overirrigation. Using less water also reduces the amount of energy needed to pump it from the ground and around a farm.

Kilimo is one example that shows how AI can create economic incentives for sustainability: The amount of water farmers save from precision irrigation is verified, and credits for those savings are sold to local companies that want to offset some of their water use. The farmers then earn a profit – often 20% to 40% above their initial investment.

Data centers

U.S. data centers consumed about 176 terawatt-hours of electricity in 2023, accounting for roughly 4.4% of total U.S. electricity use. This number increased to 183 TWh in 2024. This growing energy footprint has made improving data center efficiency a critical priority for the operators of the data centers themselves, as well as the companies that rely on them – including cloud providers, tech firms and large enterprises running AI workloads – both to reduce costs and meet sustainability and regulatory goals.

AI is helping data centers become more efficient. The number of global internet users grew from 1.9 billion in 2010 to 5.6 billion in 2025. Global internet traffic surged from 20.2 exabytes per month in 2010 to 521.9 exabytes per month in 2025 – a more than 25-fold increase.

Despite the surge in internet traffic and users, data center electricity consumption has grown more moderately, rising from 1% of global electricity use in 2010 to 2% in 2025. Much of this is thanks to efficiency gains, including those enabled by AI.

AI systems analyze operational data in data centers – including workloads, temperature, cooling efficiency and energy use – to spot energy-hungry tasks. It adjusts computing resources to match demand and optimizes cooling. This lets data centers run smoothly without wasting electricity.

At Microsoft, AI is improving energy efficiency by using predictive analytics to schedule computing tasks. This lets servers enter low-power modes during periods of low demand, saving electricity during slower times. Meta uses AI to control cooling and airflow in its data centers. The systems stay safe while using less energy than they might otherwise.

In Frankfurt, Germany, Equinix uses AI to manage cooling and adjust energy use at its data center based on real-time weather. This improved operational efficiency by 9%, The New York Times reported.

Energy and fuels

Energy companies are using AI to boost efficiency and cut emissions. They deploy drones with cameras to inspect pipelines. AI systems analyze the images to more quickly detect corrosion, cracks, dents and leaks, which allows problems to be addressed before they escalate, improving overall safety and reliability.

Shell has AI systems that monitor methane emissions from its facilities by analyzing methane concentrations and wind data, such as speed and direction. This helps the system track how methane disperses, enabling it to pinpoint emission sources and optimize energy use. By identifying the largest leaks quickly, the system allows targeted maintenance and operational adjustments to further reduce emissions. Using that technology, the company says it aims to nearly eliminate methane leaks by 2030.

AI could speed up innovation in clean energy by improving solar panels, batteries and carbon-capture systems. In the longer term, it could enable major breakthroughs, including advanced biofuels or even usable nuclear fusion, while helping track and manage carbon-absorbing resources such as forests, wetlands and carbon storage facilities.

Shell uses AI across its operations to cut emissions. Its process optimizer for liquefied natural gas analyzes sensor data to find more efficient equipment settings, boosting energy efficiency and reducing emissions.

Buildings and district heating

The energy needed to heat, cool and power buildings is responsible for roughly 28% of total global emissions. AI initiatives are starting to reduce building emissions through smart management and predictive optimization.

In downtown Copenhagen, for instance, the local utility company HOFOR deployed thousands of sensors tracking temperatures, humidity and building energy flows. The system uses information about each building to forecast heating needs 24 hours in advance and automatically adjust supply to match demand.

The Copenhagen system was first piloted in schools and multifamily housing, with support from the Nordic Smart City Network and climate-innovation grants. It has since expanded to dozens of sites. Results were clear: Across participating buildings, energy use fell 15% to 25%, peak heating demand dropped by up to 30%, and carbon dioxide emissions decreased by around 10,000 tonnes per year.

AI can also help households and offices save energy. Smart home systems optimize heating, cooling and appliance use. Researchers at the Lawrence Berkeley National Laboratory found that by adopting AI, medium-sized office buildings in the U.S. could reduce energy use by 21% and cut carbon dioxide emissions by 35%.

Aviation

About 2% of all human-caused carbon dioxide emissions in 2023 came from aviation, which emitted about 882 megatons of carbon dioxide.

Contrails, the thin ice clouds formed when aircraft exhaust freezes at cruising altitudes, contribute more than one-third of aviation’s overall warming effect by trapping heat in the atmosphere. AI can optimize flight routes and altitudes in real time to reduce contrail formation by avoiding areas where the air is more humid and therefore more likely to produce contrails.

Airlines have also used AI to improve fuel efficiency. In 2023, Alaska Airlines used 1.2 million gallons less fuel by using AI to analyze weather, wind, turbulence, airspace restrictions and traffic to recommend the most efficient routes, saving around 5% on fuel and emissions for longer flights.

In short, AI affects the environment in both positive and negative ways. Already, it has helped industries cut energy use, lower emissions and use water more efficiently. Expanding these solutions could drive a cleaner, more sustainable planet.The Conversation

About the Author:

Nir Kshetri, Professor of Management, University of North Carolina – Greensboro

This article is republished from The Conversation under a Creative Commons license. Read the original article.

 

Stock indices are under sell-off pressure due to rising geopolitical risks

By JustMarkets 

The US stock markets closed with a sharp decline: the Dow Jones (US30) fell by 1.76%, the S&P 500 (US500) shed 2.06%, and the tech-heavy Nasdaq (US100) closed lower by 2.39%. The sell-off was triggered by mounting trade risks after President Donald Trump threatened to impose new 10% tariffs on goods from eight European countries starting February 1, which could be hiked to 25% by June, due to their opposition to US control over Greenland. These statements undermined expectations for stable cross-border trade and intensified overall market risk aversion. Stocks were further pressured by rising US Treasury yields, while reports of a Danish pension fund’s plans to reduce its holdings in US Treasuries added to investor anxiety.

The heaviest losses were sustained by major tech companies and semiconductor manufacturers: Nvidia (NVDA) shares dropped 4.4%, Broadcom (AVGO) fell by 5.4%, and Oracle (ORCL) slid 5.8%, as investors actively trimmed positions in high-beta stocks.

The Mexican peso (MXN) weakened to around 17.62 per U.S. dollar, snapping its rally toward July 2024 highs, amid renewed geopolitical and trade frictions that triggered a global flight to safety. New US threats of tariffs on European goods boosted demand for safer, more liquid assets, putting pressure on emerging market currencies, including the peso. Nevertheless, fundamental support for the Mexican currency remains due to attractive domestic asset yields and an increasingly cautious stance from the Bank of Mexico. Mexico manages to maintain one of the highest real yield differentials among emerging markets, supporting capital inflows into peso-denominated fixed-income instruments.

European equity markets mostly declined yesterday. The German DAX (DE40) fell by 1.03%, the French CAC 40 (FR40) closed down 0.61%, the Spanish IBEX 35 (ES35) dropped 1.34%, and the British FTSE 100 (UK100) closed down by 0.67%. The US President Donald Trump ramped up his administration’s efforts to acquire Greenland from Denmark following the imposition of tariffs on key European trading partners, along with a threat to set a 200% tariff on French wines in response to President Emmanuel Macron’s refusal to join Trump’s proposed “Peace Council.” Against this backdrop, banks and insurance companies showed sharp declines, following the global downturn in the financial sector, as rising Japanese government bond yields added pressure to European sovereign debt markets.

WTI crude oil prices rose by more than 1%, climbing toward the $60 per barrel level and recovering from a dip below $59 earlier in the session. The market was supported by reports that Kazakhstan’s largest oil producer temporarily suspended production due to fires at energy facilities. Simultaneously, traders continued to assess the heightened geopolitical tensions between the US and Europe. Ahead of his speech in Davos, President Donald Trump reiterated that the United States must secure control over Greenland. The sharpening rhetoric revived fears of a broader trade conflict between the US and Europe, which could potentially weigh on global economic growth, although the direct impact of these risks on oil prices remains limited for now.
On Tuesday, the US natural gas prices (XNG) surged more than 25% to $3.9 per MMBtu, their highest level in three weeks, as prognoses of a sharp cold snap drove weather-driven price gains. The most severe cold is expected in the final week of January. Meanwhile, gas production remains high, and LNG exports have slightly decreased.

Asian markets declined yesterday. Japan’s Nikkei 225 (JP225) fell by 1.11%, China’s FTSE China A50 (CHA50) dropped 0.90%, Hong Kong’s Hang Seng (HK50) shed 0.29%, and Australia’s ASX 200 (AU200) posted a negative result of 0.66%.

The Australian dollar (AUD) held near a two-week high on Wednesday as the US currency continued to be weighed down by intensifying geopolitical tensions. Investors are also focused on the upcoming release of Australian labor market data, which could influence monetary policy expectations. Projections point to a recovery in employment for December by approximately 30,000 people following an unexpected contraction in November, while the unemployment rate is expected to rise slightly to 4.4%, in line with Reserve Bank of Australia (RBA) estimates. Weaker-than-expected figures would reduce the likelihood of a rate hike in the near term.

The New Zealand dollar (NZD) traded near $0.583, remaining close to a three-week high amid a weakening US dollar caused by renewed trade tensions between the US and the EU. On the domestic front, a series of encouraging macroeconomic data points toward an accelerating economic recovery in New Zealand, bolstering expectations that the Reserve Bank of New Zealand (RBNZ) will begin tightening monetary policy in the second half of the year. While markets are pricing in almost no change for the February meeting, the probability of a rate hike by July already exceeds 50%.

S&P 500 (US500) 6,796.86 −143.15 (−2.06%)

Dow Jones (US30) 48,488.59 −870.74 (−1.76%)

DAX (DE40) 24,703.12 −255.94 (−1.03%)

FTSE 100 (UK100) 10,126.78 −68.57 (−0.67%)

USD Index 99.58 −0.82% (−0.83%)

News feed for: 2026.01.21

  • UK Inflation Rate (m/m) at 09:00 (GMT+2); – GBP (HIGH)
  • Eurozone ECB President Lagarde Speech at 09:30 (GMT+2); – EUR (LOW)
  • US Pending Home Sales (m/m) at 17:00 (GMT+2). – USD (MED)

By JustMarkets

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Natural gas prices jumped more than 17%. Silver is at an all-time high

By JustMarkets

The US stock indices did not trade yesterday due to a bank holiday.

The Canadian dollar (CAD) strengthened above 1.39 against the US dollar. The currency was supported by a weakening US dollar and a mixed but overall moderately positive interpretation of the latest Canadian inflation data. The headline Consumer Price Index (CPI) unexpectedly rose to 2.4% in December, exceeding market expectations and coming in slightly above the Bank of Canada’s (BoC) short-term projections, which had anticipated inflation fluctuations near the 2% target. At the same time, median core inflation fell to a yearly low of 2.5%, indicating a partial easing of underlying price pressures. However, the combination of higher headline inflation and persistent demand reinforced the case for a more cautious approach by the Bank of Canada regarding the timing and pace of potential interest rate cuts.

European equity markets mostly declined on Monday. The German DAX (DE40) dropped by 1.34%, the French CAC 40 (FR40) closed down 1.78%, the Spanish IBEX 35 (ES35) fell by 0.26%, and the British FTSE 100 (UK100) closed at negative 0.39%. The DAX (DE40) slid to its lowest level since January 6, amid deteriorating sentiment in European markets due to the threat of renewed trade tensions between the US and the EU. The US President Donald Trump announced intentions to impose 10% tariffs starting February 1 on all imports from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland, warning that the rate could be increased to 25% in the absence of an agreement on the “full and final purchase of Greenland.” These statements heightened investor fears of trade escalation, especially following reports that the European Union is considering retaliatory measures, including tariffs on US goods worth up to 93 billion euros or restricting US companies’ access to the European market. Against this backdrop, automaker stocks plummeted: shares of BMW, Volkswagen, Daimler Truck, Porsche, and Mercedes-Benz lost up to 3.7%, reflecting the sector’s vulnerability to trade barriers.

The Swiss franc (CHF) strengthened to around 0.798 per US dollar, holding near 2011 highs as escalating geopolitical rhetoric from the US boosted demand for safe-haven assets. The rally was triggered by President Donald Trump’s statements regarding the intent to impose new tariffs on European goods over the Greenland dispute, which increased global market nervousness and supported haven currencies. Investors are also focused on the upcoming World Economic Forum in Davos, starting January 20. Key global central bankers, including Swiss National Bank Chairman Martin Schlegel, are expected to speak. Markets continue to operate on the assumption that the SNB will maintain its key interest rate at 0% for the foreseeable future.

On Tuesday, silver (XAG) traded near $94.5 per ounce, remaining at record-high levels amid rising demand for safe-haven assets due to escalating tensions between the US and Europe. Additional volatility in the silver market in recent sessions was driven by the Trump administration’s decision to forgo tariffs on essential minerals, including silver, which was added to the US critical minerals list last year due to its key role in green energy technology and electronics.
Platinum prices (XPT) declined to approximately $2,340 per ounce but remained near record levels amid increased demand for precious metals as haven assets due to the worsening tensions between the US and Europe. Analysts note that Europe holds approximately $10 trillion in US bonds and stocks, part of which is held in sovereign wealth funds and could potentially be used as leverage in the new trade confrontation. Additional volatility in the platinum market in recent sessions came from Trump’s decision to temporarily hold off on tariffs for key minerals, including platinum, instead instructing the administration to seek alternative suppliers among international trade partners.

The US natural gas prices jumped more than 17% to $3.65 per MMBtu, sharply rebounding from a 13-week low of $3.10 recorded last week. The surge was driven by an intensifying Arctic cold wave sweeping across much of the country. A sudden shift from mild weather prognoses to a scenario of severe and prolonged cold triggered a rapid market re-evaluation as traders began pricing in significantly higher heating fuel demand.

Asian markets declined yesterday. Japan’s Nikkei 225 (JP225) fell by 0.65%, China’s FTSE China A50 (CHA50) dropped 1.13%, Hong Kong’s Hang Seng (HK50) shed 1.05%, and Australia’s ASX 200 (AU200) posted a negative result of 0.33%.

On Tuesday, the offshore yuan stabilized near the 6.96 level per dollar, remaining close to a 32-month high following the Chinese central bank’s decision to leave loan prime rates unchanged. The People’s Bank of China (PBoC) kept the one-year and five-year benchmark rates at 3.0% and 3.5%, respectively, extending the period of policy stability to eight months and confirming a course of targeted economic support rather than broad-based monetary easing.

S&P 500 (US500) 6,940.01 0 (0%)

Dow Jones (US30) 49,359.33 0 (0%)

DAX (DE40) 25,297.13 −55.26 (−0.22%)

FTSE 100 (UK100) 10,235.29 −3.65 (−0.04%)

USD Index 99.38 +0.05% (+0.05%)

News feed for: 2026.01.20

  • China PBoC Loan Prime Rate at 03:15 (GMT+2); – CHA50, HK50 (MED)
  • UK Average Earnings Index (m/m) at 09:00 (GMT+2); – GBP (MED)
  • UK Claimant Count Change (m/m) at 09:00 (GMT+2); – GBP (MED)
  • UK Unemployment Rate (m/m) at 09:00 (GMT+2); – GBP (MED)
  • UK BOE Gov Bailey Speaks at 11:45 (GMT+2); – GBP (LOW)
  • Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+2); – EUR (LOW)
  • Switzerland SNB Chairman Schlegel Speaks at 18:30 (GMT+2). – CHF (LOW)

By JustMarkets

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.