Weekly Wrap - 11/04/2025 - More Trump tariff turmoil & this week shows why Gold is the KING!

Although tariffs/trade war will dominate the headlines, the Chinese selling US treasuries will really take its toll moving forwards. The Fed looks like it is going to cut come May!

Absolute carnage in the markets this week. Up, down, up, down, up violently, down violently, up violently (again) and down violently (again)…..……..and breathe!

Recent podcast guest Dr

Nomi

Prins discussed likely scenarios when we spoke about ‘Tariff turmoil, bonds, stocks, the Fed and Gold’ this week. If you are yet to listen to that podcast then please do so. It is incredibly apt given what we have seen in the markets this week.

The Weekly Open Newsletter on 7th April 2025 was also apt with the headline ‘'More market madness in the week ahead?’’ All of this is to be expected moving forwards as there are a lot of moving parts and things are heating up both geopolitically and economically.

Summary of the markets this week

• Gold = UP 6.54% ($198.67) - new ATH’s on Daily & Weekly Close

• Silver = UP 9.11% ($2.69)

• Dow Jones UP 5.55% (2,118.60 points)

• NASDAQ = UP 8.09% (1,398.60 points)

• S&P 500 = UP 6.25% (315.60 points)

• Nat Gas = DOWN 6.33% ($2.45 - Henry Hub)

• Brent Crude = DOWN 2.39% ($1.59)

It should be noted that for those that are concerned with what Trump and team are currently doing, then please go and listen to the recent podcast with

Doomberg

and also read about Agenda 47. Like it or not, Trump is doing what he said he would do.

It is also very interesting to note that the odds of Trump removing just the 10% tariffs are currently at 8%. Given what we have seen this week alone, I would have thought that that would be higher - but then again I am not working in the Oval Office!

GOLD

Gold is doing what gold should be doing in times of economic uncertainty. One of the key (and not often highlighted issues this week) is that the Chinese are selling US Treasuries. From those proceeds, it looks like they are buying gold. A lot of gold! That combined with the tariff turmoil means that gold reached another new ATH this week.

This will likely be something that is written quite a lot in the next few years!

Gold has held relatively steady all week. 1 Hour, Daily & Weekly charts below.

SILVER

I recently wrote about the GSR and with it breaching 100 to 1 this week, silver is looking more attractive on a daily basis. Personally, I am looking to add to physical holdings and then benefit from the lowering of the GSR. History suggests that it should lower in due course.

Silver looks calm on the 1 Hour chart but the Daily and Weekly chart follows a similar pattern to that of the Major Indices.

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We have a special audio that looks at a summary of the week as well as a reminder of my overall thesis and some of the wild swings we have seen across the board this week……