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Trading Day: Solid data over hard assets
Yahoo Finance· 2026-02-02 22:03
Group 1 - Wall Street remained resilient despite a historic selloff in precious metals, with the dollar rising as investors reacted to strong U.S. and global manufacturing data and a thaw in U.S.-Iran relations [1][2] - The nomination of Kevin Warsh as the new Fed Chair by President Trump contributed to the significant decline in precious metals prices, indicating ongoing volatility in the market [2][3] - Precious metals, particularly gold and silver, experienced their largest declines in decades, with gold falling 4% and silver dropping 7% on the latest trading day [3][4] Group 2 - U.S. manufacturing showed unexpected strength, with the ISM manufacturing PMI rising to 52.6 in January, marking the strongest growth in nearly four years, contrary to analysts' predictions of continued contraction [4]