Gold Recovers as broader market repositions

Spot pricing for Gold $AU4031

Spot pricing for Silver $AU47.94

Spot pricing for Platinum $AU1502

As we estimated last week, Gold and Silver have recovered nicely from election volatility and is now looking much healthier at $US2634 with an RSI of 46. And amongst all the market chaos, Wall Street is now lowering expectations for 2025. It was only weeks ago that leading banks and economists were predicting a super cycle for stocks following the election. How quickly things change amongst ridiculously high debt levels, the threat of inflation and ongoing geopolitical conflict.

And while Trump is yet to take office, he looks to be taking direct aim immediately at US immigration and tariffs. When looking at both of these issues together, Trump seems to care less about importing both goods (and people via immigration) to further protect jobs for Americans. Following a similar mantra to his last presidency would suggest that he will focus on Mexican border protection and encouraging local manufacturing. While ultimately, bringing manufacturing of goods back to US soil will be great for America - it would play havoc with exports from countries (like Australia) that rely on this import/export relationship.

Enjoy today’s charts.

Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA

ASX200, with 200MDA