Markets saw reduced volatility yesterday, with the quietest trading day since the new US tariff plans were announced, despite confusion over tech tariffs.
On Tuesday, the price of gold climbed to 3,220 USD per troy ounce as market uncertainty surrounding US President Donald Trump’s tariff policies continued to support demand for safe-haven assets.
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Amid historic market volatility, we examine Gold vs. tech stock performance, revealing strong signs that the recent shake-up may signal a major capital rotation underway.
GLD, the biggest gold-tracking ETF, surged to a high of $296 on Monday, bringing the year-to-date gains to 22%. It has done better than other assets like stocks and Bitcoin.
Stocks tried to rally from early this morning, starting with the futures overnight. By the end of the day, they gave those up and hung on for just small losses from a gap up open.
What we see is a market that failed to be roiled by bond selling or tariff news. We found ourselves recognizing that all really is quiet on the bearish front.
Given the situation in the USD Index, stocks, and how strongly silver reacted to the first wave of selling, it seems that much bigger declines are just around the corner.
addition, the U.S. exempted certain electronics from reciprocal tariffs, easing fears of a deepening trade war.US markets closed higher fueled by upbeat bank earnings and comments from Fed officials. All 11 S&P 500 sectors gained, with materials and tech leading. Asia markets rose, and European markets up as US exempts some goods from tariffs.
If a genuine unwinding gets underway, there is a long way to go on the downside. But it is too soon to declare that. Yes, volatility bulls were unable to cling on to the weekly highs, but there are several layers of defendable support underneath.
Gold ETFs saw an inflow of 226.5 metric tons worth $21.1 billion in the first quarter, representing the largest quarterly inflow in three years in the first quarter.
