Gold shot up nearly 2% on Tuesday, reaching $4,420 per ounce, while the major US stock indexes started the day almost unchanged.
Market snapshot
At the opening bell, the Dow Jones Industrial Average slipped 0.06% to 48,434.88 points and later traded slightly lower at 48,376.64. The S&P 500 fell 0.08% to 6,900.44 before edging up to 6,911.62. The Nasdaq Composite dropped 0.04% to 23,465.67 and finished the session a touch higher at 23,503.69.
Gold rally
Data from CME Group showed gold prices rose 1.77% – about $77 – to $4,420.50 per troy ounce, up from $4,343.60 the day before. The jump adds fuel to the ongoing debate about inflation expectations and the Federal Reserve’s next steps.
Top gainers
- Dow: Boeing, UnitedHealth Group, Walt Disney, Chevron, Microsoft, Salesforce, Verizon
- S&P 500: Intel, Molina Healthcare, Occidental Petroleum, Boeing, Newmont, Take‑Two Interactive, Diamondback Energy
- Nasdaq: Ekso Bionics, Profusa, Antelope Enterprise, Cemtrex, Fly‑E Group, Borealis Foods, Zhongchao
Stocks that lagged
- Dow: Goldman Sachs, Home Depot, Nike, IBM, Amgen, Procter & Gamble, Cisco, Merck, American Express, Walmart, McDonald’s, 3M, Coca‑Cola, Apple
- S&P 500: Ares Management, Williams‑Sonoma, EPAM Systems, Corpay, Ralph Lauren, State Street, Incyte, Gilead Sciences, FactSet, J.M. Smucker
- Nasdaq: Triller Group, SMX (Security Matters), Dreamland, X3 Holdings, Eastern International, Republic Power, Work Medical Technology, CCSC Technology International, Bolt Projects, Diginex
What to watch
Investors are waiting for the Federal Reserve’s meeting minutes, which could give clues about future interest‑rate moves. In the meantime, the strong gold rally suggests continued demand for safe‑haven assets.
Remember, this is perspective, not a prediction. Do your own research and consider consulting a certified financial advisor before making any investment decisions.