Markets Rally as Reality Bites: Wall Street Climbs While Trump’s Economy Falters

Spot pricing for Gold $AU5196

Spot pricing for Silver $AU51.66

Spot pricing for Platinum $AU1551

Global sharemarkets are continuing their upwards momentum despite another round of disappointing economic data, raising eyebrows among analysts and investors alike. The S&P 500 and Nasdaq both notched gains overnight, even as key indicators showed slowing consumer spending, weaker job openings, and softening business investment. This divergence between market confidence and economic fundamentals is becoming increasingly hard to ignore.

In the United States, attention is turning to the economic performance of the Trump administration’s first 100 days since returning to office—and the numbers aren’t flattering. By several measures, including jobs growth, GDP expansion, and household confidence, this opening stretch is shaping up to be the weakest economic start for a presidency in over 50 years. Markets may be buoyed by anticipation of tax reform or deregulation, but on-the-ground indicators suggest growing strain for households and businesses.

Meanwhile, gold remains steady, trading comfortably above the US$3000 mark. The metal’s strength is underpinned by ongoing uncertainty in the macroeconomic landscape and cautious sentiment among institutional investors. Technical signals show the Relative Strength Index (RSI) holding in the mid-60s, with a potential uptick on the horizon—a sign that another leg up could be forming if risk sentiment shifts.

Enjoy today’s charts.

Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA

ASX200, with 200MDA