Fools Gold
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Why is gold hitting a new high amid tariff uncertainty?
Gold hits another high today on all this tariff uncertainty. Oil has pushed higher too. Perhaps because Donald Trump has been talking about secondary tariffs on anyone buying oil from Russia because all of a sudden he doesn't like Putin as much as he used to. European CPIs are out today and yields higher there over increased speculation that they won't cut rates this month. And the RBA today. It's Tuesday, the first of April, 2025. It's the morning call from now. Good morning. So it's been a mixed day for US equities. The they started the session quite well and then they were down quite a bit. The S P was down one and a half percent at one stage, but it actually finished up half a percent at the close.
The Nasdaq couldn't quite climb back into the green. It's down naught point two percent of the close. The Dow is at one percent, but still down on the quarter uh and on the month, and a naught point six percent drop for the Russell two thousand. We had big falls uh for Europe. European shares, the EU stocks fifty closed down one point six percent, one point three percent off the DAX, nort point nine percent off the FTSE one hundred. The VIX is climbing again, it reached twenty four point eight in the session overnight. The US dollar is marginally up. The Aussie though, nort six percent lower to sixty two and a half US cents. The pound and the euro are down naught point two percent. Ten year GILTs are flat on the day, a one basis point rise in ten year bunds, a two basis point four
In ten year guilt yields. Aussie ten years were down eight basis points yesterday to four point three eight percent, but on futures, pretty much retracing all of that and back up to four point four five percent this morning. Big moves up in oil prices, up three point one per cent for WTI, one and a half percent more for Brent, which is up to seventy four seventy five barrel. Gold is up one point two percent uh per cent for Comex, breaking a new record today at three thousand one hundred and sixty two. announce. And it's now Skymasters who's with me today. So looking at shares, first of all, uh I mean it's the Mag Seven, isn't it? MAGA is proving not that great for the Mag Seven. Uh Bloomberg actually says when you compare the US stock market with the rest of the world, comparatively, we've just seen the worst quarter since the nineteen eighties.
How are US equity indices reacting to mixed market data?
Um but, you know, where there's a dip, there's an opportunity sky, and this is a brand new quarter. Porter, but we really don't know where the markets are going next, do we? Because it's that uncertainty around whatever Donald Trump's gonna say on Wednesday.
Yeah, so yeah, obviously massive amount of uncertainty in um markets as we head into April April the second. Um, you know, looking at price action overnight though, uh y you know, the market did try to extend the moves that we saw on Friday. So, you know, you you spoke to Ray yesterday about the the big moves in inequities and um And bond yields on on Friday on the the softer than expected US um consumer data. Um but overnight we've actually seen some of those moves reversed. So you know, e equities did open did open lower, but they've they've retraced those those moves as as the days progressed. And you know, you you've now got as you said as you said, the Dow is um or SM P five hundred is is just is just stronger on the day, the Dow's up.
Um and the Nasdaq is is still lower, but but it is it is off off the lows that we've seen in the morning. Um.
So so a bit of a bit of a reversal and and you've as you said, yeah, ten year sorry, bond yields are are higher on the day. So the market did try to extend the rally. US tens did hit four eighteen um Late in the session yesterday afternoon. But again, as I've said, they've reversed that. You've got US tens up at where are they? four twenty six at the moment, so up five basis points to your treasuries are up are up six points. And we really don't
know what to expect, do we, on uh on on Wednesday. So uh Caroline uh Leavitt, who's the p um press what is she? Well the press person anyway, the spokesperson for Donald Trump.
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Chapters
8 chapters
1
Why is gold hitting a new high amid tariff uncertainty?
0:01–2:05
2
How are US equity indices reacting to mixed market data?
2:05–4:27
3
What impact are Donald Trump’s secondary oil tariffs having on prices?
4:27–6:53
4
Why are European CPI releases and political news influencing markets today?
6:53–8:53
5
How are global PMI reports shaping expectations for growth?
8:53–10:50
6
What is the RBA’s likely stance on rates and why?
10:50–12:11
7
When will Donald Trump announce the final tariff list and what could it mean?
12:11–12:27
8
What are the key take‑aways from today’s Australian retail sales and market outlook?
12:27–12:30