Markets ride wave of optimism, gold surges, while geopolitics and tech tensions simmer

Markets held steady in Friday trade, buoyed by a continued run of optimism in both consumer and investor sentiment. Despite underlying tensions in global trade and tech, major indices remained resilient. Gold extended its strong performance, continuing to attract safe-haven flows as broader economic uncertainty simmers beneath the surface. Spot prices are now sitting around AUD$5188, maintaining their recent gains and fuelling speculation that a new floor is forming.

Trade tensions crept back into headlines with former President Trump announcing a new tariff strategy focused on steel imports. A recently finalised US–UK deal allows key exceptions for British steel, offering some breathing room for UK producers while reasserting Trump’s “America First” trade stance. The move has reignited global concerns about the potential for renewed protectionism should Trump return to office, especially across sectors already sensitive to global supply chains.

Meanwhile, NVIDIA has voiced fresh concerns over access to China, highlighting the risks posed by rising export restrictions. As a major supplier of AI and data centre chips, the company faces serious exposure to changes in trade policy. Investors are watching closely, with shares reflecting heightened sensitivity to any disruption in US–China tech relations. Any tightening of restrictions could weigh heavily on future earnings.

Adding a rare curveball to the news cycle, the Vatican has elected its first-ever American pope. While not directly tied to financial markets, the announcement has stirred interest globally and may signal shifting cultural influence at a time when the geopolitical order is already in flux.

Despite the backdrop of trade uncertainty and tech sector risk, markets closed the week with a steady hand. Optimism is still in the air, and gold’s continued strength suggests investors aren’t ignoring the underlying volatility—they’re just hedging carefully.

Market Snapshot

• Gold – $AU5188
• Silver – $AU50.92
• US500 – 5665
• ASX200 – 8196
• AUD/USD – 0.64

Gold Futures Technical Analysis  

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