Aussie $ currently down 1.88%, so in spite of $U.S. spot price gold being down $20, XAUAUD is up $50 Crypto markets have had a mini crash today, but have currently recovered from lows. Even some of the lead cryptos, including Ethereum, were down 30%. Trump's tariff attacks on Allied countries has caused a bit of alarm. Part of the common consensus behind the rising POG has been the "weaponization" of the $U.S., and the erosion of confidence that foreign assets held by the U.S. were safe from confiscation. Another aspect has been the perception that U.S. policy has driven more countries to sign up with the BRICS in order to reduce their dependence and exposure to U.S. influencies. In my opinion, the blatantly aggressive behaviour by the U.S. president will inevitably add fuel to the fire. Many analysts were of the opinion that his tariff threats against allies were "negotiating tactics". Events over the week end have demonstrated that underestimating the ability of trump to cause chaos and mayhem, to damage friend and foe alike, is a mistake. Gold loves chaos
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