S&P500 continues down

The S&P 500 has continued its slide, marking a 6% drop over the past two weeks, erasing all gains made since the last election. Investors are becoming increasingly cautious as uncertainty builds around economic policy, trade tensions, and shifting market conditions. President Trump’s latest round of 25% tariffs on imports from Canada, Mexico, and Chinahas rattled markets further, fueling concerns about rising costs for businesses and consumers. With market sentiment already fragile, attention is now shifting to Federal Reserve Chair Jerome Powell’s speech later today, where he is expected to address employment trends and the future of interest rate policy.

Powell’s comments will be closely scrutinised, particularly as recent economic indicators suggest a slowdown. Markets are watching for any signals about potential rate cuts, though concerns remain that any shift in monetary policy will be a response to broader economic weakness rather than a proactive move to stabilise markets. With traders looking for direction, today’s speech could set the tone for the coming weeks.

Meanwhile, tech stocks are feeling the pressure, with the ongoing AI sector selloff weighing on investor confidence. Companies previously considered untouchable are now facing a sharp reality check. Marvell Technology's stock plummeted nearly 18%, sending shockwaves across the sector as concerns mount over whether AI valuations have been pushed too far, too fast. Compounding the issue, China’s rapid advancement in AI software and hardware is undercutting the high-priced models produced by U.S. firms. With Chinese companies like DeepSeek producing competitive AI at a fraction of the cost, U.S. firms are facing a stark reassessment of their future profitability. The question now is whether the AI sector is experiencing a healthy correction or if the bubble is beginning to burst.

Amid all of this market uncertainty, investors are still looking for safe havens. Gold and silver remain key areas of focus, with recent movements indicating that demand is holding firm as traders hedge against volatility. With geopolitical instability, trade uncertainty, and tech market corrections dominating headlines, gold’s long-standing role as a hedge against instability may prove to be more relevant than ever.

Market Snapshot

• Gold – $US2910
• Silver – $US32.61
• US500 – 5753
• ASX200 – 8013
  
• AUD/USD – 0.63

Market Indicators to Watch

• U.S. Jobs Report – Releases Friday, March 7, 2025, at 12:30 am AEST, providing a key measure of labor market strength.
• U.S. Unemployment Rate – Also Friday, March 7, 2025, at 12:30 am AEST, a crucial gauge of economic stability.
• U.S. CPI (Inflation Data) – Scheduled for Wednesday, March 12, 2025, at 11:30 pm AEST, offering insight into price pressures.
• RBA Rate Statement – Next update Tuesday, March 11, 2025, at 2:30 pm AEST, shaping expectations for monetary policy.
• AUD Retail Sales Data – Expected Thursday, March 13, 2025, at 11:30 am AEST, reflecting consumer spending trends.

Gold Futures Technical Analysis  

As of March 7 March, 2025, the technical indicators for Gold Futures suggest a STRONG BUY on both monthly and weekly analyses.  

Technical Indicators - Monthly Projections  

Summary for Monthly Forecast: Strong Buy  

Gold, Daily with 200MDA

Silver Daily with 200MDA

ASX 200 Daily with 200MDA

SP500 Daily with 200MDA

*Not financial advice; please conduct your own research before making any investment decisions.*