Gold Surges to New Record High

• Gold soared to $3,139.78 per ounce, setting its fourth consecutive record high as investors rushed to safe-haven assets.
• The rally is driven by mounting fears of a global trade war and concerns over the US dollar’s reserve currency status amid Trump’s tariff escalation.
• Central banks continue to increase their gold reserves, further fueling demand.

US Markets Stabilize

• S&P 500 gained 0.55% on Monday, snapping a three-day losing streak, but futures indicate a potential 0.54% decline ahead of Tuesday’s session.
• Some strategists warn that if the US enters a recession, equity markets could tumble another 10%, as current valuations do not fully price in an economic downturn.

Dollar Faces Pressure

• The Japanese yen strengthened, pushing USD/JPY down to 149.70, as investors sought refuge in traditional safe-haven currencies.
• US Treasury yields declined, with 10-year yields slipping to 4.2072%, reflecting heightened demand for US government bonds.
• The Australian dollar weakened (-0.18%) as disappointing retail sales data fueled speculation that the Reserve Bank of Australia (RBA) might signal a rate cut in May.

Oil Prices Pull Back Slightly

• Brent crude dipped 0.1% to $74.67, while WTI crude declined 0.1% to $71.37, retracing some gains after Monday’s 2% surge.
• Prices spiked earlier following Trump’s renewed threats of secondary tariffs on Russian crude and potential military action against Iran if nuclear negotiations fail.
• Global demand concerns persist, as investors weigh the impact of a prolonged trade war on economic growth.

Bitcoin Remains Steady

• Bitcoin continues to hover around $82,708, showing resilience despite broader market uncertainties.
• Investors remain watchful of potential regulatory actions and macroeconomic influences on the cryptocurrency sector.

What’s Next?

• Markets are treading cautiously as they await Trump’s “Liberation Day” tariff details, which could determine the next major market move. Gold’s record-breaking streak signals deep investor anxiety, while equities are finding temporary relief.

The dollar’s weakness and falling Treasury yields suggest traders are positioning defensively. If recession fears intensify, we could see a flight to safety accelerate even further.