US500 hits record high, shrugs off Trump tariff threat.

Spot pricing for Gold $AU4067

Spot pricing for Silver $AU47.13

Spot pricing for Platinum $AU1446

US stocks hit another record high yesterday, amidst President elect Donald Trump issuing warnings for future tariffs on Canada, Mexico and China made products. Later in the day, a cease-fire agreement was set in place between Israel and Hezbollah which may have helped market sentiment. Oil pricing softened on the cease-fire news, giving relief to those at the petrol pump leading into Christmas.

And the FED has pumped the brakes a little regarding interest rate policy. With FED Chair Powell previously inferring that they’ll be pricing in numerous rate cuts to stimulate the economy, he is now back peddling a little. The FED is now talking about what a ‘neutral rate’ is, to ensure the economy is not overheated into the next 6-12 months. In what looks similar to Australia’s media circus around fiscal policy, the US may well need to hold rates steady for a bit longer to ensure inflation is truly under control.

Gold and Silver look to be consolidating around softer news, though both are still above their 200MDA with Gold continuing to outperform silver.

Enjoy today’s charts.

Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA

ASX200, with 200MDA