Gold Hits New Record Highs


On a night dominated by the illiquidity of absent European markets still celebrating Easter, US Futures all opened with decent upside on Monday night (closed since Thursday pre-PCE), but only Nasdaq managed to cling to very modestly green on the day. A little late-day meltup put a little lipstick on another wise pig of a day for most stocks...

ASX200 Futs are up 81 (closed since Thursday), but I think they'll revert lower when the mkt actually opens.

Gold managed to hold gains overnight, spiking to a new record high at USD$2271...

...While Israeli strikes in Iran and more drone strikes prompted oil prices to jump to new cycle highs (WTI USD $84.50) as geopolitical risk premium rise (highest since Oct 2023)...

This it's worth noting - US Tax day is April 15th.  Seasonality will likely come into play here as the US retail community tends to sell stocks into 4-15 to raise cash for these payments...

Source: Goldman Sachs

So that chart above tells me to So BTFD today, STFR on April 9th, then BTFD on April 17th...

Happy Tuesday!

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