New York gold futures fell below $4,900 per ounce, down 0.79% on the day.

Energy: 1. Russian oil discounts to India have widened to over $10 per barrel. 2. Kuwait opens oil fields to foreign investment and plans to lease its pipeline network. 3. Kazakhstan exported 310,000 tons of oil to Germany in January. 4. Reports indicate the US is considering issuing licenses to allow companies to drill for oil in Venezuela. 5. Moroccan officials stated that Morocco is still considering proceeding with its Mediterranean LNG terminal project. 6. Saudi Arabia will invest approximately $2 billion in a solar power plant in Turkey. 7. US Trade Representative Greer: We have been closely monitoring India's gradual reduction in Russian oil purchases. 8. Russian Deputy Prime Minister Novak: (Regarding the possibility of India cutting Russian oil imports) We have only seen public statements so far. 9. According to US government officials, the US Treasury Department has issued a license approving the supply of (oil) diluents to Venezuela. 10. Qatar Energy: Signed a sales and purchase agreement for up to 3 million tons of liquefied natural gas (LNG) annually from Qatar to Japan. 11. Sources say Kazakhstan's oil exports were cut by 30% in January and December due to the shutdown of the Tengger oil field and CPC shipping restrictions. Metals/Mining: 1. Foreign media: The EU plans to advance a key mineral partnership with the US. 2. Chile raises its copper price forecast from $4.55 to $4.95 per pound. 3. $3 billion in funding is poised to be deployed as US rare earth companies accelerate the construction of their mineral supply chains. 4. US Interior Secretary: The US plans to announce up to 11 key mineral trade agreements this week. 5. Chilean Copper Commission (Cochilco): Chilean copper production will grow by 3.7% this year, reaching 5.613 million tons. 6. Goldman Sachs: Continues to believe there is significant upside risk to its December 2026 gold price forecast of $5,400/ounce. 7. Market news: Industry officials say Indonesian miners have suspended spot coal exports after the government proposed significant production cuts. 8. Goldman Sachs: Raised its 2026 nickel price forecast to an average of $17,200 per ton, up from its previous forecast of $14,800 per ton. Other: 1. Indian officials say $500 billion in purchases from the US includes existing projects and new sectors. 2. US Trade Representative Greer: India's tariffs on industrial goods (to the US) will be reduced from 13.5% to almost zero. 3. Indian industry officials: Indian sugar mills are unlikely to export their entire 1.5 million tonne sugar quota in 2025/26.

Tesla (TSLA.O) shares fell to a more than two-month low, down 4.3% at the latest.