W/C 2nd Feb - Trump Tariffs 2.0 = Onwards and upwards? Or danger below?

The Chinese are back and we look at Gold, Silver, Dow Jones and S & P 500 charts

NB - I’m trying out a new time for the weekly open newsletter this week i.e. when Asian trading opens. This is why the title has 2nd Feb as Asian trading opens at 17:00 Mexico City time on Sunday 2nd February.

Welcome to the Contrarian Capitalist weekly open newsletter (the newsletter that does the hard work so you don’t have to).

Last week was a lot of fun with the Dow Jones + S & P 500 just short of making intraday highs and the DAX having its highest ATH at the close on Thursday 30th January.

Without doubt the biggest news is Trump slapping tariffs on Canada and Mexico at a rate of 25% and also China at 10%.

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How this affects the markets this week is going to be very interesting to say the least!

They are either going to react well or not very well to Trumps decision.

Physical Gold had a lot of issues last week as New York took a LOT of physical delivery from London. So much so that the delivery guidance in London had to change from a couple of days to 4-8 weeks. That certainly sent alarm bells ringing!

Part of this would have been down to the threat of tariffs (now confirmed) coming in!