Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns 
Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
Bitcoin Hits New Heights Amid Trump Election Speculation
On Monday, Bitcoin's price surged, briefly reaching a three-month high of $69,007.1, as speculation grows around Donald Trump's potential victory in the upcoming 2024 elections. The world’s largest cryptocurrency is now within $5,000 of its all-time high, and surpassing the $70,000 mark could signal a bullish trend.
Trump’s Pro-Crypto Stance Fuels Market Optimism
Recent polls and prediction markets indicate an increasing likelihood of a Trump win over Democratic nominee Kamala Harris. The crypto prediction platform Polymarket shows a 60.7% probability of Trump's victory compared to 39.1% for Harris. Trump's campaign is noted for its pro-cryptocurrency stance, promising to foster Bitcoin's growth in America and even accepting crypto donations.
The potential for a Trump presidency has traders optimistic about more favorable crypto regulations in the U.S., a significant issue in light of recent scrutiny from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). While Harris has expressed intentions for a regulatory framework for crypto, specifics remain unclear.
Broader Crypto Market Gains
As Bitcoin rallies, other cryptocurrencies are also benefitting. Ether, the second-largest cryptocurrency, rose 3.8% to $2,740.14, nearing a two-month high. Notably, SOL and ADA saw increases exceeding 6%, while XRP and MATIC gained nearly 4%. Among meme tokens, DOGE rose by 4.6%.
Recent data indicates that institutional investors are returning to the cryptocurrency market, further buoying prices as the election approaches. With just over two weeks until the vote, the market is bracing for a tightly contested presidential election.
