5/05/2025 Daily Reports
Gold Gains Ahead of Fed Decision as Trade Dispute, Trump Pressure Weigh on Markets
- Gold climbed over $3,260 an ounce after posting its first two weekly declines of the year as investors braced for a crazy week dominated by Federal Reserve policy-making and fresh doubts about US-China trade. While the Fed most likely will keep interest rates steady at its two-day meeting next, President Trump put more pressure on Fed Chair Jerome Powell to cut interest rates, with robust job data.
- Meanwhile, US stock futures declined, indicating a slowing market after the S&P 500’s record-setting rally. Hopes of revived US-China trade talks buoyed sentiment, however, an actual solution is far from in view. Investors are also closely watching major releases of economic indicators like jobless claims and manufacturing figures for clues to the direction of the US economy.
- Worldwide, President Trump congratulated Australia’s Prime Minister Anthony Albanese on his re-election, describing their relationship as “very friendly,” since geopolitical stability is a key context to markets.
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