From 6% unemployment in Poland, to the “unsatisfactory” Nvidia and the bull market for gold. Markets between euphoria and risk

From the labor market and record mortgages, through Nvidia's results and the return of the bull market in gold, to political tensions around Trump and cryptocurrencies. The past week brought a series of signals that may set the direction for the economy and markets in 2026. We invite you to a week on Bankier.pl charts

The Central Statistical Office officially confirmed the previous reports of the Ministry of Labor and showed the January unemployment rate at 6%. This is the highest reading in almost 5 years. However, in my opinion this is not particularly scary information. Here's why.

Nvidia presented results on Wednesday that again exceeded analysts' expectations, but the early reaction of the markets suggests that the appetite was even greater. Shares of the semiconductor giant rose in after-hours trading before falling. Futures contracts for the S&P500 and Nasdaq indexes shared this fate.

After the January crash, precious metals markets quickly returned to growth. On Monday, silver prices increased by over 5%, and gold prices remained above USD 5,000/oz for the third day in a row. In the background there remains uncertainty regarding US customs policy and tension in the Middle East.

January brought a surprisingly strong retail sales result – according to the latest data from the Central Statistical Office. This time, economists' forecasts turned out to be too conservative.

Where to buy a diesel in Poland? The simplest answer is – in commission. However, we do not take the easy way and check what diesel models are still offered by Polish car showrooms. However, there are fewer and fewer of them. Of the thirty most popular brands in January 2026, only eleven offered “clean” diesels.

The Russian central bank, for the first time in several months, decided to sell part of its gold reserves, getting rid of 300,000 troy ounces. Is this an attempt to save state finances or a planned operation? It looks like it's both.

The latest, 21st edition of the World Economic Forum report leaves no doubt: the time of relative stability has definitely come to an end, and 2026 marks the beginning of the “era of competition”. At the forefront of global threats are hard geopolitics, trade protectionism and the growing risk of bursting asset market bubbles. Are capital markets ready for a reality where trade, technology and finance become openly used weapons?

In 2025, banks signed the most mortgage loan agreements since the boom in 2021. The value of financing exceeded PLN 100 billion for the first time in history. The authors of the latest AMRON-SARFiN report say – “it was a good year”.

As Business Insider Polska (BIP) reports, citing the analyzes and findings of the Polish Financial Supervision Authority (KNF), the prosecutor's office is investigating a case of suspected insider trading, i.e. illegal use of confidential information, in which one of the protagonists is Paweł Gruza – a well-known manager of state-owned companies and former deputy minister of finance. The unfair transactions allegedly concerned a biotechnology company controlled by the richest Pole.

After receiving a large order from one of the entities belonging to the Polish Armaments Group, the price of the Polish Foundries from Starachowice is breaking historical records. The company's stock increased by 48% in just three sessions, and since the beginning of the year it has already increased by over 80%. The clue that the company appeared on the radar of Polish speculation a year ago turned out to be accurate. The most interesting thing is that OSINT performed by users of the Bankier.pl forum last year suggested a scenario that is currently being implemented.

During Tuesday's State of the Union address to the joint chambers of Congress, President Donald Trump announced expanding access to 401(k) stock market retirement plans for “forgotten workers” and agreed to a radical proposal to ban stock trading for members of Congress, which was met with bipartisan applause. “Did Nancy Pelosi stand up? I doubt it,” the US president said sarcastically.

The cryptocurrency market is in retreat again. Bitcoin's price fell below $65,000 on Monday. reacting to the resurgence of the US tariffs issue. The US Supreme Court has declared most of Donald Trump's tariffs illegal. In reaction to the ruling, the president announced on Saturday that he would increase rates by 1/3.

Once upon a time, algorithms were supposed to solve the problem of human loneliness, and investors saw it as a goldmine. After all, love is a first-order need. Today, Tinder (Match Group) and Bumble are scraping by, losing several dozen percent from their historic highs in 2021, when the pandemic lockdown and the need for closeness sent valuations skyrocketing. Grindr, its equivalent aimed at the LGBTQ+ community, fares slightly better, but only slightly, but it is still a shadow of its version from a year ago.

prepared by WM

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