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Tuesday, February 3, 2026

Wall Street Shudders As Commodities Slide, With Gold And Silver Crashing From Record Highs

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Gold pulled back sharply after hitting record highs near $5,600 as profit-taking and a dollar rebound hit overheated trades, even as the metal remained on track for a historic monthly gain.

Bitcoin Slides Below $80,000 As Thin Liquidity And Fed-Policy Jitters Deepen The Crypto Selloff

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China probes emergency management minister Wang Xiangxi in anti-graft campaign

ChinaChina probes emergency management minister Wang Xiangxi in anti-graft campaign

China’s top anti-corruption watchdog has opened an investigation into Wang Xiangxi, the country’s minister of emergency management, in a rare case involving a sitting cabinet-level official.

The Central Commission for Discipline Inspection said Wang is suspected of “serious violations of discipline and law,” a standard official phrase widely used to indicate suspected corruption.

Wang, 63, took office in July 2022 after previously leading the state-owned power generator National Energy Investment Corp, according to reporting on his background.

Caixin reported that Wang is the 23rd member of the Communist Party’s 20th Central Committee to come under investigation, and that he is the first sitting minister from his department to face such a probe since 2018, underscoring how the anti-graft drive is reaching into increasingly senior ranks.

Reuters noted that Wang was last seen publicly earlier this week at a regular internal meeting where officials engage in self-criticism, and placed the probe in the context of President Xi Jinping’s broader campaign, which has expanded scrutiny to officials across sectors including state enterprises and education.

The watchdog did not provide details on the allegations or a timeline for the investigation’s next steps, and it remains unclear whether prosecutors will ultimately file criminal charges.

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