Wall Street under pressure but Gold rallies again
|Nervous investors have resumed selling US stocks, while gold continues to shine as a haven against tariffs and political uncertainty, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Europe higher but US markets slump again
The Dax briefly returned to its record high today ahead of the news that Germany’s parliament had voted in favour of groundbreaking stimulus measures, but otherwise investors have remained cautious. The gains made since last Thursday’s low in US stocks are rapidly slipping away; traders are evidently still in ‘sell the rally’ mode, even though today has been thankfully free of any tariff headlines so far.
Gold touches new record
There’s no stopping gold at present. It has ceased to be the store of value against inflation and now revels in its role as a safe haven against political volatility. Further gloomy US economic data might well fuel the next leg to the upside. Oil remains volatile, with WTI failing again to make any progress above $68.
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