Metals Meltdown, Iran Deal Hope Sinks Oil & Huang Spooks Tech Stocks | The Opening Trade 2/2/2026

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Gold losses big, after its biggest plunge in more than a decade on Friday, while silver’s year-to-date gains were wiped out as a record-breaking precious-metals rally unwound at breakneck speed. Plus, oil plunged after US President Donald Trump said Washington is talking with Iran, easing geopolitical risk premiums. Also, Nvidia CEO Jensen Huang helped cause a tech sell-off after saying the company's proposed $100 billion investment in OpenAI was "never a commitment". The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson and Tom Mackenzie. Chapters: 00:00:00 - The Opening Trade 00:02:47 - Gold Plunges 00:03:57 - Oil Prices Fall 00:06:45 - AI Funding Doubts 00:07:13 - Julius Baer CEO Stefan Bollinger 00:15:23 - Spot Gold Extends Declines 00:21:01 - Metals Selloff 00:28:54 - Dollars Gains 00:40:34 - Pain Transitioning to Pros From Retail: 3-Minutes MLIV 00:47:05 - Stocks to Watch: Miners, Tech, Intesa 01:03:52 - Metals Meltdown 01:07:23 - $100B OpenAI Investment 'Never a Commitment: Jensen Huang 01:15:13 - Iran's Khamanei Warns of Regional War 01:17:22 - Trump on Iran Deal 01:21:07 - Oil Prices 01:32:04 - Oracle Drops After Plan to Raise Up to $50 Billion 01:32:47 - Fed, Kevin Warsh -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts