Editor’s Note
This summary highlights key market movements, including the ongoing correction in precious metals and the resilience of equities amid a strong dollar.
- Gold and silver extend their decline, continuing the correction that began in late January.
- Partial U.S. government shutdown, but no immediate negative impact on equity markets.
- U.S. and European indices show strong gains, driven by solid macroeconomic data.
- Dollar strengthens significantly, attracting flows exiting precious metals.
- Sharp correction in commodities, particularly natural gas and oil.
- Slight rebound in cryptocurrencies, despite a still fragile context.
Financial markets are moving in a paradoxical environment. While precious metals continue a sharp correction and the United States enters a partial shutdown, equity markets are showing remarkable resilience, supported by strong macroeconomic data and a dollar that has once again become the primary safe haven.
At 20:00, selling pressure remains intense:
- Gold: -3.5%, testing $4,650/oz.
- Silver: -5%, below $79/oz.
The momentum confirms that precious metals are no longer playing their traditional role as a safe haven in the short term. Capital is clearly exiting this segment to reposition into the U.S. dollar and liquid assets.
The major political event of the day is the partial shutdown of the U.S. federal administration, a consequence of Congress’s failure to pass a budget.
Immediate consequences: suspension of some federal agencies, uncertainty for thousands of civil servants, increased political noise.
United States
U.S. indices show strong gains: S&P 500: +0.6%, Nasdaq: +0.8%, Dow Jones: +1%.
Investors seem to favor macroeconomic strength over short-term political risks.
Europe
The European session was also calm and constructive: DAX (Germany): +1%, CAC 40 (France): +0.7%, FTSE 100 (UK): +1.2%, IBEX 35 (Spain): +1.2%.
In the foreign exchange market, the U.S. dollar is strengthening significantly against major currencies.
