We study several intrinsic properties of the Carathéodory and Szegö metrics on finitely connected planar domains. Among them are the existence of closed geodesics and geodesic spirals, boundary behaviour of Gaussian curvatures, and -cohomology. A formula for the Szegö metric in terms of the Weierstrass -function is obtained. Variations of these metrics and their Gaussian curvatures on planar annuli are also studied. Consequently, we obtain optimal universal upper bounds for their Gaussian curvatures and show that no universal lower bounds exist for their Gaussian curvatures. Moreover, it follows that there are domains where the Gaussian curvature of the Szegö metric assumes both negative and positive values. Lastly, it is also observed that there is no universal upper bound for the ratio of the Szegö and Carathéodory metrics.

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