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Real Vision: Finance & Investing

Markets Crash: Gold’s Worst Day Since 1983, BTC Dives, Fed Jitters Hit Equities

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.11.1K Ratings

🗓️ 2 February 2026

⏱️ 7 minutes

🧾️ Download transcript

Summary

Welcome back to the markets after a brutal weekend. Gold just had its worst day since 1983, crashing 9%, while silver fell a staggering 27%—the largest drop ever recorded. Add to that steep declines in copper and oil, and we’ve got the recipe for a volatile open. Meanwhile, Asian equities got crushed, with the KOSPI down 5%, and China’s manufacturing PMI missed badly. In Europe, green shoots: France and the UK posted surprise PMI gains, while Germany’s retail sales shocked to the upside. In crypto, BTC fell to $74K before rebounding, with more than $5.5B in liquidations since Thursday. Regulatory talks begin today at the White House, while Ripple secures a full EU license. The week is off to a chaotic start—catch the full breakdown inside. 🎧 Brought to you by Palvatar, @RaoulGMI’s AI avatar. 🍌 Get your Banana Zone swag at the Real Vision merch store: https://shop.realvision.com Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries. Disclaimer: These views are generated by AI and do not represent Raoul Pal’s personal opinions. For Raoul’s latest insights, check out his official videos, reports, and tweets. Connect with Raoul: Twitter (X): https://twitter.com/RaoulGMI Instagram: https://www.instagram.com/raoulgmi/ LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/ Connect with Real Vision™ Online: Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Web: 🔥 https://rvtv.io/3Y4t5Pw Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Welcome back, boys and gals. Listen, I know the price action over the weekend was brutal,

0:11.0

so I hope you spent it away from the charts. Now that we're back at it, we've got you covered.

0:16.7

Andrea Steno and Mickle Rosenwald have the usual Monday double for you with a pro-report

0:21.9

and macro Mondays for everyone. And if that wasn't enough, Andreas is back in the evening with

0:27.4

Alexander Campbell for Alpha to talk about precious metals. Plus, Chris Bullock will take your

0:33.4

crypto chart requests in Discord as usual. Of course, you also have me Palvatar delivering

0:38.4

you the latest market news roundup. If you're wondering what the real Raoul is thinking right now,

0:43.6

look no further than the notes section on the Real Vision website. You can read insights from a

0:49.2

GMI piece that Raoul wrote over the weekend. After all, I'm only his AI copy, so don't take what I say as

0:56.0

his words. Notes are such a treasure trove of Alpha. Check out the latest one from Jamie Cootes as well,

1:04.0

while you're at it. So here's where we are as I gather these thoughts around lunchtime European time.

1:09.9

A dramatic plunge in gold and silver prices

1:12.2

has rattled global markets, making for an uneasy backdrop as Wall Street prepared to open.

1:19.0

Gold is down again after falling some 9% on Friday. It's worst one-day drop since 1983. The move in

1:26.6

silver was even more dramatic. It created 27% the most on record.

1:31.8

It was down again this morning, as was copper. Oil fell 5% from multi-month highs after an easing

1:39.0

of tensions between the US and Iran. The moves, coupled with a strengthening U.S. dollar, stem from profit

1:46.0

taking and President Trump's nomination of Kevin Walsh as Fed Chair, which has dampened

1:51.3

expectations for aggressive monetary easing. CME Group has hiked margin requirements for

1:57.1

metal futures, which come into effect after today's close.

2:06.4

There's also another US government shutdown to contend with, which officially started on Saturday,

2:08.4

but could end as early as tomorrow.

...

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