Gold: Trump makes $3,000 look like an easy target [Video]

The Chinese markets opened for the first time after a long Lunar New Year holiday, and they opened down on a set of weaker-than-expected PMI figures, on the news of 10% tariff on its exports toward Trump’s USA, and a further escalation of the trade war with the tit-for-tat measures announced yesterday from Beijing.

Across the Pacific Ocean, Google hit a record high yesterday regardless of the Chinese threat. Magnificent 7 saw dip buying and rebounded near 1.80%. Palantir was the star of the day with a 24% rally in its share price after announcing lot better-than-expected quarterly results and amassing rating and PT upgrades from big banks on its capacity to cash in on the AI boom.

Overall, the S&P 500 and Nasdaq 100 consolidated gains above 50-DMA and the Stoxx 600 was better bid on Tuesday on rising confidence that the EU could negotiate trade terms with Trump and avoid tariffs. But sentiment is much less cheery this morning as Google and AMD results – released after the bell – didn’t enchant investors.

Gold, on the other hand, renews record after record as the precious metal is certainly one of the best hedges against the Trump risks.