Unearthed Podcast
World Gold CouncilUnearthed: The New Macro Playbook ft Rebecca Patterson
In this episode of Unearthed, hosts Joe Cavatoni and John Reade sit down with Rebecca Patterson, globally respected macroeconomic investor, Vanguard board member, and Senior Fellow at the Council on Foreign Relations, to unpack the fast-moving and increasingly complex global economic landscape.
Weekly Markets Monitor
Weekly Markets Monitor - Fed policy in driver’s seat
Strong US economic data and upbeat corporate earnings contrasted with weakening consumer confidence in the US and Europe last week. Uncertainties around the US–Iran conflict remained key in influencing market sentiment.
Weekly Markets Monitor
Weekly Markets Monitor - Light relief
Geopolitics remained in focus last week, with signs of de-escalation between the US and Iran, boosting market sentiment. Better-than-expected economic updates across the US, Europe and China, alongside upbeat Q1 US corporate earnings further supported global markets.
Juan Carlos Artigas
Regional CEO (Americas) and Global Head of Research World Gold CouncilRay Jia
Head of Research (Asia Pacific, ex-India) and Deputy Head of Trade Engagement (China) World Gold CouncilTaylor Burnette
Research Lead, Americas World Gold CouncilYou asked, we answered: Has gold's performance structurally changed?
Gold’s volatility has markedly increased in 2026; however, similar episodes have occurred in periods of risk with volatility usually normalising within a few months. Bid-ask spreads have also notably risen since 2024; however, barring unusually high spikes in off market hours, the gold market still offers sizable liquidity through record trading volumes and two-way market activity. Amid a visible increase in the bond-equity correlation, gold remains a valuable strategic asset and portfolio diversifier even when accounting for its higher volatility environment.
Weekly Markets Monitor
Weekly Markets Monitor - 21 tonne salute
In a holiday-shortened and geo-politically volatile week, economic data came in stronger than expected—US jobs, manufacturing, retail sales, and confidence all beat forecasts. China showed improving economic momentum and India’s manufacturing output rose. At the same time, in the Eurozone, price pressures from the surge in energy costs are emerging.
Weekly Markets Monitor
Weekly Markets Monitor - Conflict pressure mounts
Geopolitics and rising energy prices dominated markets last week, raising stagflation concerns. Early signs of fallout from the Middle East conflict are emerging, with softer PMIs across several economies. In the US, consumer sentiment weakened as inflation expectations rose. UK inflation held steady in February but faces upward pressure from higher energy costs, while Japan’s inflation eased on subsidies. China’s industrial profits rose, pointing to a firmer recovery
Weekly Markets Monitor
Weekly Markets Monitor - Testing gold’s resolve
Last week was marked by major central bank meetings and escalating geopolitical tensions. Most central banks, including the Fed, ECB, BoE, BoJ, held rates steady but highlighted rising inflation risks and signaled a hawkish bias, while the RBA hiked. Economic data was mixed, stronger in China but weaker across other major economies.
Weekly Markets Monitor
Weekly Markets Monitor - Credit, where credit’s due
Global markets faced a turbulent week as the West Asian conflict added to existing economic uncertainty. Economic data pointed to moderating US growth, flat UK GDP, and a sharp drop in Eurozone industrial production, while China continued to post large trade surpluses.
Weekly Markets Monitor
Weekly Markets Monitor - What gives: oil or yields?
Global markets remained under pressure last week. In the US, unexpected job losses, rising unemployment and weaker retail sales pointed to softening momentum, while private credit concerns persisted and the VIX rose. Eurozone inflation surprised on the upside amid risks from rising oil prices.
Weekly Markets Monitor
Weekly Markets Monitor: Crisis hedge
Last week, global developments were marked by inflationary pressures in advanced economies, uneven growth momentum, and a sharp escalation of geo-political tensions. US price pressures remained firm despite softer activity. Europe posted mixed inflation and patchy demand, China signaled cautious domestic demand, while India’s growth stayed robust. Escalating US–Israel–Iran tensions disrupted key energy and transport routes, heightening geopolitical and market risks.
Weekly Markets Monitor
Weekly Markets Monitor: A silver lining playbook?
Last week’s updates pointed to an uneven but resilient global economic backdrop and persistent policy uncertainty. The US economy slowed in Q4, the trade deficit widened, inflation firmed, Fed divisions emerged and the Supreme court blocked global tariffs. Europe and Japan showed improving momentum and easing price pressures, while in India activity stayed steady, though trade deficits widened sharply.
Weekly Markets Monitor
Weekly Markets Monitor: The tail is wagging
Global data last week delivered a mixed set of signals. Stronger headline job gains and sticky inflation in the US dampened prospects for near-term Fed easing, even as weak retail sales and sizeable downward payroll revisions signaled softer underlying momentum. Europe’s growth diverged with the UK stagnating and the Eurozone steady, while in Asia Japan’s real wages remained under pressure, China’s weak demand and property slump persisted, and India’s inflation climbed.
Unearthed Podcast
World Gold CouncilUnearthed: Gold Price Surge and What It Means for Investors
In this episode of Unearthed, Joe Cavatoni and John Reade, Senior Market Strategists at the World Gold Council, discuss the recent dynamics of the gold market, focusing on the significant price movements in January, the volatility expected in the coming months, and the influence of Asian markets on gold demand.
Weekly Markets Monitor
Weekly Markets Monitor: yen does a 180° at 160
Last week was all about geopolitical tension over Greenland, which eased post Davos negotiations. US economic data signaled a healthy backdrop despite elevated inflation. Europe saw steady activity, Japan held rates but with a tightening bias, China’s recovery remained uneven.
Weekly Markets Monitor
Weekly Markets Monitor: Leaving the leaders
Last week, global markets were shaped by steady US inflation, resilient consumer demand, and fresh tariff threats. Europe saw economic recovery; China’s GDP grew at 5% in 2025, matching its pre-set target; Japan called a snap election, and India saw inflation tick up and trade deficit widen.
