Trump stops the selloff in its tracks
Another day of selling has been averted by some comments from the White House, but gold is sharply lower for a change, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
Stocks recover after signs of trade détente emerge
It was all set to be another frantic Friday for markets as a US regional bank crisis appeared on the horizon, but comments from President Trump have once again lifted equities off their lows. Long-term market moves are still determined by pedestrian things like earnings and economic growth, but day-to-day the global financial markets are driven by trade war fears and comments from the White House. The past two Fridays have shown how this works in both directions, but at least this Friday is looking to end in a more positive fashion.
Gold to finally reverse course?
It turns out gold goes down as well as up. The price’s apparently-unstoppable march has finally hit a speed bump. Notably we haven’t seen two consecutive down days for gold since August, so investors will have to wait to see if the selling continues on Monday, indicating a potential short-term top in this glittering rally.
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