⭕Analysts expect gold to rise to $6,000 per ounce!
📊 Frank Holmes, CEO of U.S. Global Investors and Chairman of Hive Digital Technologies, expects the price of gold to reach a record high of $6,000 per ounce by the end of US President Donald Trump's second term.
⬅️ Holmes attributed this scenario to key factors, most notably the restructuring of the global financial system, the gradual decline in reliance on the US dollar, and the significant increase in gold purchases by governments and central banks, particularly in China.
🔴 Crude oil prices fell during trading on Tuesday, amid declining investor expectations for demand growth due to the ongoing trade war between the US and China, the world's two largest economies.
🔻 Brent crude futures fell 0.79%, reaching $65.34 per barrel.
🟡 Gold prices fell on Tuesday as the yellow metal's safe-haven appeal diminished due to easing trade tensions between the US and its trading partners, while investors await US economic data to assess the path of Federal Reserve policy.
🔵 In the long run, stock market news will be good. 📊
💡 In the 20th century, America suffered two world wars, devastating military conflicts, the Great Depression, 12 economic recessions, a terrifying financial panic, oil shocks, a flu pandemic, and the resignation of an indicted president. Yet, the Dow Jones rose from 66 points to 11,497.
💵 The dollar's worst performance since Nixon's during Trump's 100 days in office. 🇺🇸
• The US dollar index appears to be on track to record its worst performance, declining by about 9% during the first 100 days of a US presidency since the era of Richard Nixon, when the United States abandoned the gold standard and moved to a free-floating exchange rate.
Oil prices rose on Monday, but remained affected by uncertainty surrounding trade talks between the US and China, which is casting a shadow over global growth prospects and fuel demand, while the possibility of OPEC+ increasing supplies has increased market pessimism.
🟡 Gold prices fell on Monday, as investors' appetite for risk increased due to easing trade tensions between the US and China, weakening demand for safe-haven assets such as the precious metal. Meanwhile, a stronger dollar increased pressure on gold.
🟨 Spot gold fell 0.7% to $3,290.06 per ounce. The yellow metal had hit a record high of $3,500.05 on April 22.
⭕ US Treasury Secretary Scott Besant expects the trade escalation between Washington and Beijing to slow, while President Donald Trump announced that the hefty tariffs he imposed on Chinese exports to his country will be reduced "significantly."
⏪ During a closed-door meeting in Washington organized by JPMorgan Chase, Besant emphasized that the current trade situation between Washington and Beijing is unsustainable for both parties, according to what one of the attendees told Agence France-Presse.
⏪ The current trade situation the US Secretary is referring to is an additional 145% tariff imposed by the United States on its imports of Chinese products and a retaliatory 125% tariff imposed by China on its imports of US goods.
🔴 China confirmed on Wednesday that it is ready to enter into trade talks with Washington, a day after US President Donald Trump indicated he was willing to reduce the hefty tariffs he imposed on it after reaching an agreement.
📌 Chinese Foreign Ministry spokesman Guo Jiakun said at a press conference in Beijing that "China has indicated from the beginning that no party will emerge victorious in trade and tariff wars," adding that "the door is wide open to talks."
1. Is Trump No Longer Scaring Stock Markets? The S&P 500 Index fell 2.4% overnight, but Asian stock markets remained unaffected. US stock futures are now in the green.
2. Gold Makes History: The price of an ounce surpassed $3,494. We've never seen such a jump before. Perhaps in the time of the Pharaohs? God knows!
3. Bitcoin: "There's a Title for Difference": The first digital currency surpassed $88,000 as if it didn't see what was happening. But altcoins are suffering from a decline.
🔷 The dispute between President Trump and Federal Reserve Chairman Jerome Powell is escalating and reaching a peak.
⬅️ Trump returned on Monday and attacked Jerome Powell, describing him as a big loser and demanding that he immediately cut US interest rates.
🔷 Meanwhile, Jerome Powell continues to oppose a rate cut, which gave the markets an initial impression that Trump will soon dismiss Jerome Powell.
🔷These concerns increased demand for gold, pushing it to a new all-time high of $3,500 due to fears of a clash between the Federal Reserve and the White House.
🔷There are no significant market data releases today, and the focus remains on the effects of the trade war and the disagreements between Trump and Powell.
⭕ US gold futures breached $3,400 for the first time in history as the dollar fell to a three-year low and recession fears stemming from the trade war prompted investors to seek safe havens.
⭕ Oil prices fell 2.2% to $66 a barrel as investors refocused on concerns that US tariffs will create economic headwinds that will reduce fuel demand growth.
🛢 Oil rises more than 3%, supported by hopes of a trade agreement between the United States and the European Union, amid growing supply concerns after Washington imposed further sanctions to reduce Iranian oil exports.
💰 Gold continues to decline as investors take profits, but remains above $3,300 per ounce amid a weaker dollar and escalating trade tensions between the United States and China.
📊 Asian markets closed mixed, with the Nikkei index rising more than 1% to end its best week in three months, as investors' hopes grew that Trump could strike trade deals with some major trading partners, including Japan.