Flash note
Over the past year, much of the market’s attention has been on gold and silver. While investors debated safe-haven flows, central bank buying and inflation risks, copper was quietly repricing. Year-to-date, copper is already up around 4%, following a gain of roughly 40% in 2025. Analysts are warning that demand could outpace supply within the next decade.
Gold soars amid monetary shift and silver remains a steal. Each week, the Syz investment team takes you through the last seven days in seven charts.
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Over the past year, much of the market’s attention has been on gold and silver. While investors debated safe-haven flows, central bank buying and inflation risks, copper was quietly repricing. Year-to-date, copper is already up around 4%, following a gain of roughly 40% in 2025. Analysts are warning that demand could outpace supply within the next decade.
NATO allies are sending troops to Greenland to defend Danish sovereignty and the United States is threatening them with tariffs for doing so. Greenland, long a quiet corner of the Arctic, is suddenly at the centre of a transatlantic confrontation.
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This S&P 500 index advanced over the week, topping 7,000 but ultimately retreating from its new intraday high. Large-cap value stocks gained and outperformed their growth counterparts. Small-cap stocks lagged and finished the week lower. Within the S&P 500, the communication services and energy sectors led the way. Health care stocks pulled back the most. Initial U.S. jobless claims came in at 209,000 for the week ended January 24—above the consensus estimate. After three consecutive rate cuts, the Federal Reserve left the benchmark fed funds rate unchanged, in line with market expectations. A 10–2 vote underpinned the decision, with the two dissenting policymakers favoring a 25-basis-point reduction.
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