Market Information Tuesday 20 January 2026

Gold and silver jumped to record highs after United States President Donald Trump threatened extra tariffs on European countries unless they agreed to sell Greenland. Spot gold rose 1.6% to $4,666.65 an ounce after touching $4,689.39, while U.S. futures traded near $4,671.40. Silver climbed 4% to $93.50 after hitting $94.08. Platinum gained 1.1% to $2,353.25 and palladium edged up 0.2% to $1,804.06.

Russia said its 2025 budget deficit reached 5.6 trillion roubles ($72.12 billion), or 2.6% of gross domestic product, the highest GDP share since 2020. Revenues totalled 37.28 trillion roubles, 7.5% below the initial target, as oil and gas income fell 24% to the lowest since 2020. Spending rose 6.8% year on year to 42.93 trillion roubles despite measures such as a higher value-added tax.

U.S. President Donald Trump threatened a 200% tariff on French wines and champagnes to pressure President Emmanuel Macron to join his proposed Board of Peace. France intends to decline for now, according to a source close to Macron, while other governments worry the initiative could undermine the United Nations. A draft charter was sent to about 60 countries and proposes a $1 billion contribution to keep membership beyond three years. Trump also said he invited Russia’s Vladimir Putin.

The 6M Euribor is unchanged at 2.14% compared to previous business day. The 10Y Swap increased with 1 basis point to 2.87% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.