Gold and silver prices rose on Wednesday as U.S. Treasury bond yields fell after data showed December retail sales growth stalled, signalling a softening economy ahead of key jobs data.

FUNDAMENTALS

Spot gold edged 0.3% higher to $5,038.73 per ounce by 0059 GMT.

U.S. gold futures for April delivery gained 0.6% to $5,060.60 ‌per ounce.

⁠Spot ⁠silver was up 1% at $81.49/oz, after falling more than 3% in the previous session.

U.S. yields fell on Tuesday after a raft of data suggested the economy may be softening, giving the U.S. Federal Reserve more cushion to cut interest rates. [US/]
Falling yields reduce the cost of holding metals and ​often come with macro signals that favour ⁠them.U.S. ‌retail sales were unexpectedly unchanged in December as ​households scaled ​back spending on motor vehicles and other big-ticket items, ⁠potentially setting consumer spending and the economy on a ​slower growth path heading into the new year.

Federal Reserve Bank of Cleveland President Beth Hammack, however, said on Tuesday that the U.S. central bank faces no urgency to change the setting of interest rates this year amid a “cautiously optimistic” outlook for economic activity.

Investors expect at least two 25-basis-point rate cuts ‌in 2026, with the first one expected in June. Non-yielding bullion tends to do well in low-interest-rate environments. [FEDWATCH]

Investors ​await the ​non-farm payrolls report ⁠for January, due later in the day, and inflation data on Friday for more cues on the Fed’s monetary policy path.

Indian investors piled ​into gold exchange-traded funds in January as prices soared amid rising geopolitical risks, surpassing flows into equity funds for the first time, industry data showed on Tuesday.

Spot platinum added 0.6% to $2,098.78 per ounce, while palladium rose 0.2% to $1,712.25.

DATA/EVENTS (GMT)

0130 China PPI, CPI YY January

1330 US Non-Farm Payrolls January

1330 US Unemployment Rate January

1330 US Average Earnings YY January

Market Overview

Global fixed-income markets delivered positive total returns in the fourth quarter of 2025 as policy uncertainty, fiscal developments, and divergent central-bank actions shaped the investment landscape. The US began the quarter with its longest government shutdown

Operator

Good day. Welcome to Upexi Inc. Fiscal Second Quarter 2026 Financial Results Conference Call. Please note this event is being recorded.

I would now like to turn the conference over to Valter Pinto, Managing Director at KCSA Strategic Communications. Please go ahead.

Valter Pinto
Kanan, Corbin, Schupak & Aronow, Inc.

Thank you, operator. Good evening, and welcome, everyone, to the Upexi Fiscal Second Quarter 2026 Financial Results Conference Call. I’m joined today by Allan Marshall, Chief Executive Officer; Andrew Norstrud, Chief Financial Officer; and Brian Rudick, Chief Strategy Officer.

Before we begin, I’m going to remind everyone that statements made during today’s conference call may be deemed forward-looking statements within the meaning of the safe harbor of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of risks, uncertainties and other factors. For a detailed discussion of some of the ongoing risks and uncertainties in the company’s business, I’ll refer you to the press release issued this evening and filed with the SEC on Form 8-K as well as the company’s reports filed periodically with the SEC. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

In addition, during the course of the call, we may refer to non-GAAP financial measures that are not prepared in accordance

Jaguar Land Rover is recalling nearly 2,300 electric SUVs in the U.S. over concerns that a high-voltage battery may overheat, increasing the risk of fire, the National Highway Traffic Safety Administration (NHTSA) announced on Tuesday.

The recall impacts 2,278 Jaguar I-Pace vehicles from the 2020–2021 model years.

“As an interim repair, the battery software will be updated by a dealer, or through an over-the-air (OTA) update to limit the state of charge to 90%” the NHTSA said, according to Reuters, adding that the final remedy is currently under development.

BMW RECALLS NEARLY 90,000 VEHICLES OVER ENGINE STARTER FIRE RISK

There will be no charge to vehicle owners for the interim repair, the recall report said.

Customers can monitor their vehicle’s charging with the latest version of the Jaguar Remote App or inside the vehicle, according to the report, which says owners should physically stop charging by unplugging the cable when it reaches a 90% state of charge.

Vehicle owners are urged to park outside and away from structures and to charge outside if possible.

“Vehicles have experienced thermal overload, which may show as smoke or fire, that may occur in the high voltage traction battery pack. The investigation is ongoing,” the report reads.

Investigations pointed to a “folded anode tab” in battery cells produced at an LG Energy Solution facility in Poland, which can lead to short-circuiting.

CHRYSLER RECALLS MORE THAN 450,000 VEHICLES OVER BRAKE LIGHT FAILURE

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“Modules that were identified by the remedy software as having characteristics of a folded anode tab, which may contribute to a risk of thermal overload, are still being inspected by the supplier,” it added.

Notification letters are expected to be mailed to affected owners starting April 3.

A top official involved in the Trump administration’s new AI “Tech Force” initiative offered a glimpse inside the White House’s push to place AI engineers inside federal agencies and overhaul how the federal government uses technology.

“This is a public-private partnership where we’re going to bring a thousand great engineers into government to help us complete the modernization that is so important to our American people and so important to making sure that technology is a first-class citizen inside of government,” Scott Kupor, Office of Personnel Management director, said Tuesday on “Varney & Co.“

With help from companies such as Microsoft, Palantir, Salesforce and Snowflake, Kupor said the initiative is designed to embed engineers across major federal agencies rather than centralizing them in a single office, allowing technologists to work directly on modernization efforts at departments including the Treasury Department, the Department of Health and Human Services and the Department of War.

TRUMP ADMIN REUNITES WITH ELON MUSK IN PURSUIT OF AI DOMINANCE: ‘BENEFIT OF THE COUNTRY’

Palantir, for one, already plays a key role in integrating artificial intelligence into the Department of War, Kupor noted, pointing to the company as an example of how advanced technology can be deployed effectively inside government.

“Palantir is no doubt a leader in that area, and what we want to do is make sure that other parts of technology, other parts of AI get into government,” he explained. 

CHEVRON CEO DETAILS STRATEGY TO SHIELD CONSUMERS FROM SOARING AI POWER COSTS

“Today, what happens is we have a very heavy reliance on contractors and consultants, as you may know. We don’t have as much homegrown talent in core AI, modern software development, and Tech Force is really intended to make sure that the government can be a first-class citizen and attract those types of individuals, just like Palantir has done in the government, but we also want to make sure that talent is resident in government long-term.”

Kupor said the engineers brought in through Tech Force will be placed directly inside agencies and supported through a structured program that includes professional development, a speaker series and engagement with private-sector partners.

He said applications for the initiative are already coming in, with the administration expecting to begin making offers within the next 30–45 days.

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At the end of the program, many workers are expected to move into private sector roles, taking with them experience gained working inside the federal government.

“The whole goal is, agency by agency, [to] figure out what are all the major modernization efforts and how do we make technology, how do we make AI really important to the American people?” he said.

Operator

Thank you to everyone for joining Robinhood’s Q4 and Full Year 2025 Earnings Call, whether you’re tuning into the live stream or here with us in person. With us today are Chairman and CEO, Vlad Tenev; CFO, Shiv Verma; and VP of Corporate Finance and Investor Relations, Chris Koegel.

Vlad and Shiv will offer opening remarks and then open the call to Q&A. During the Q&A portion of the call, we will answer questions from the audience, which includes institutional research analysts, finance content creators, who may hold an ownership position in Robinhood and both institutional and retail shareholders.

As a reminder, today’s call will contain forward-looking statements. Actual results could differ materially from our current expectations, and we may not provide updates unless legally required. Potential risk factors that could cause differences, including regulatory developments that we continue to monitor are described in the press release we issued today, the earnings presentation and our SEC filings, all of which can

Target on Monday took steps toward streamlining its retail model by putting more money toward frontline store employees while cutting about 500 office and supply chain jobs.

The retail giant indicated in an internal memo seen by FOX Business that it will reduce the number of store districts – which are regions that Target stores are grouped into – to facilitate payroll for more workers and hours, as well as guest experience training for store staff. The news was first reported by CNBC.

Target’s layoff plans are expected to impact about 100 people at the store district level and about 400 across the company’s supply chain sites, according to the internal email sent to employees by Chief Stores Officer Adrienne Costanzo and Chief Supply Chain and Logistics Officer Gretchen McCarthy.

“We have already shared the news with team members directly impacted, and we’ll be supporting them through this transition with a range of resources and benefits,” the memo said.

TARGET’S NEW CEO TAKES OVER AMID SLUMPING SALES, UNREST IN MINNEAPOLIS

The change “fuels our ability to put significantly more payroll in our stores – primarily in additional labor and hours where needed most, but also in new guest experience training for every team member at every store,” the executives wrote.

The announcement does not change the starting pay for workers, according to a Target spokesperson, who declined to specify the amount of money being invested in the stores.

Target CEO Michael Fiddelke, who moved into the top job earlier this month, indicated in October that the company would cut about 1,800 corporate roles as the big box retailer undergoes its first major layoff in nearly a decade.

TARGET BETS ON $5B STORE REVAMP PLAN TO REVIVE SALES

Ticker	Security	Last	Change	Change %
TGT	TARGET CORP.	113.23	-2.29	-1.98%

Fiddelke is hoping to lead a successful turnaround effort that will drive growth at Target, as the retailer’s sales have slumped over the last several years.

On Tuesday, the company announced changes at the executive level. Cara Sylvester was named chief merchandising officer and Lisa Roath was appointed chief operating officer. 

Fiddelke said in a memo to employees after taking charge that his priorities will include sharpening Target’s merchandise mix while improving stores and the retailer’s website to make shopping easier and more appealing.

TARGET SLASHES PRICES ON THOUSANDS OF ITEMS IN BID TO REVIVE SLIPPING SALES

Fiddelke also said the company plans to use technology to streamline operations and personalize the customer experience, and indicated the company plans to invest more in its employees and strengthen ties to communities where it operates.

“Priority 1 through 10 is accelerating Target’s growth,” Fiddelke said in an emailed statement to FOX Business earlier this month, adding that the company is “moving with urgency and focus.”

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FOX Business’ Daniella Genovese and Reuters contributed to this report.

President Donald Trump said the U.S. should have the “lowest interest rates in the world” and argued that rate cuts would significantly reduce federal borrowing costs during an interview Tuesday on FOX Business’ “Kudlow.”

“This country should have the lowest interest rates in the world,” Trump told host Larry Kudlow. “We keep the world going.”

Trump tied interest rates to government interest expenses, saying that changes of a few points could significantly alter federal finances.

DOW CLOSES ABOVE 50,000 FOR FIRST TIME

“Every point is $600 billion,” Trump said. “All he has to do if we went down two points, we don’t have a deficit anymore,” he claimed.

Market milestone

Trump also pointed to recent market milestones as evidence of economic strength, telling Kudlow he remembers predictions that the Dow Jones Industrial Average reaching 50,000 would be considered a “miracle” by the end of a presidential term.

“I remember when I first won, they said if he gets the Dow up to 50,000 by the end of his fourth year, he will have done miracles,” Trump said. “And we’re at the end of the first year.”

Trump added, “We’ve had a very good run, and we want to keep it going.”

INSIDE THE TRUMP ADMINISTRATION’S AI ‘TECH FORCE’ DESIGNED TO MODERNIZE THE GOVERNMENT

Trump credited falling energy prices for easing costs, telling Kudlow he recently saw gas prices as low as $1.85 in Iowa and saying prices in other parts of the country had “broken $2 a gallon.”

“And that’s like a major tax cut,” Trump said.

In the interview, Trump pushed back on the idea that strong growth should automatically prompt tighter monetary policy, arguing that markets and policymakers react negatively to inflation concerns.

“We’re old enough to remember when the stock market, when there was good news, the market went up and was bad news, the market went down,” Trump said. “That’s the way it should be.”

Trump suggested that dynamic has shifted, claiming markets can fall on positive economic news because of inflation fears and expectations about rates.

NAVARRO SAYS TRUMP’S TARIFF BET DEFIED WALL STREET PANIC AS DOW SURGED PAST 50,000

“They have the yips,” Trump said, comparing the reaction to golfers who “can’t sink a three-foot putt” when they hear the word inflation. “Well, growth doesn’t mean inflation.”

“We have to go back to the old system when we have good news, the market should go up, and we have bad news, the market should go down,” Trump said, adding, “We’ll take care of inflation as it comes.”

Warsh nomination

Trump praised Kevin Warsh, his nominee connected to the Federal Reserve, in the interview’s discussion of monetary policy, saying Warsh would be influential.

“I think he’s somebody that’s going to be a real influencer,” Trump said. “I think he agrees with what I’m saying.”

Trump argued the U.S. has historically maintained comparatively low borrowing costs.

“Let’s go back again. Another 20, 25 years. We were always the lowest interest rate,” Trump said. “We used to pay like almost nothing.”

FED’S POWELL EITHER CORRUPT OR INCOMPETENT WITH BUILDING PROJECT, TRUMP TELLS KUDLOW

He then contrasted that with today, claiming, “Now we’re like number 38 because we have had stupid people running our country.”

Switzerland tariffs

Trump illustrated his view by recounting a dispute with Switzerland, which he said benefited from low tariffs and trade imbalances with the United States.

“We had an incident with a very nice country, Switzerland,” Trump said. “They were paying no tariffs, sending stuff over here like nobody could believe. And we had a $42 billion deficit and we weren’t taking anything.”

“I said, ‘You may be a small country, but we have a $42 billion deficit with you,’” he added.

Trump said he initially imposed a 30% tariff on Swiss imports before later raising it to 39% following pushback from Swiss officials.

The U.S. later agreed to lower tariffs on certain Swiss goods to 15% from 39% under a trade framework announced last year, Reuters reported.

In a wide-ranging exchange with Kudlow, Trump sharply criticized Federal Reserve Chair Jerome Powell, arguing rates should be lower.

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“He’s so bad that, I mean, interest rates should have been cut. We should be two points lower,” Trump said.

Kudlow closed the interview by thanking the president for his time.

With markets moving at lightning speed, flooded with updates, alerts, finfluencers, and chatter, Warren Buffett’s famous observation feels like a timely and much-needed reminder. His words highlight a simple yet powerful truth about investing: Success often depends less on how frequently you trade and more on how long you can stick to a well-thought-out strategy.

Today, every market move is tracked, earnings reports reviewed, and geopolitical events quickly connected to potential market impact. The temptation to react—to buy, sell, or reshuffle portfolios at the first sign of volatility—is ever-present. Yet Buffett’s message reminds investors to cut through the noise and focus on the long game.

When investing is driven by short-term swings, emotions often take over. Fear can prompt premature selling, while excitement or FOMO during rallies may lead to chasing overpriced stocks. Over time, such behavior erodes returns and increases transaction costs, taxes, and stress, all of which undermine long-term wealth creation.

Patience, on the other hand, lets compounding work its magic. Strong businesses rarely grow in a straight line — earnings and competitive advantages build over years, not weeks, and market leadership evolves gradually, not overnight.

Investors who remain patient give quality companies with strong fundamentals the time to execute, expand market share, and enhance profitability. This long-term mindset often distinguishes consistently successful investors from those who struggle.

Buffett’s quote also underscores the psychological advantage patience provides. Markets reward those who stay calm amid uncertainty. Whether facing an economic slowdown, interest rate changes, political developments, or sudden market corrections, patient investors focus on fundamentals rather than reacting to every headline.
In the present day and age, Buffett’s words are a timely reminder that investing is not a sprint. The ability to wait, stay disciplined, and trust a well-thought-out strategy often separates average outcomes from exceptional results. Patience is not about doing nothing, it is a deliberate choice that fuels long-term financial success.