Oil Prices Fall Amid a Broad Market Sell Off Following New U.S. Tariffs; OPEC to Boost Supply Next Month
Silver and New York gold experienced a major shock as Trump's tariff exemptions concluded 80 billion dollars "Precious Metals migration."
In the past few months, due to concerns among traders about how Precious Metals would be affected by tariffs, New York futures Gold experienced a significant premium over benchmark prices, stimulating large-scale arbitrage trading. As Gold, Silver, Platinum, and Palladium were exempt from tariffs, the arbitrage trading reversed, leading to a rapid and significant narrowing of the price difference between New York futures Gold and spot Gold, while the Silver market experienced a sharp decline in the "physical delivery price difference."
OPEC+ to Make Larger Output Hike in May
Oil Slumps on Demand Fears After Trump's Tariff Blitz
Oil Prices Drop 3% After US Reciprocal Tariff Hits Trading Partners
The tariff storm from Trump has arrived! The Asia-Pacific stock markets have collectively plummeted, and Gold has reached a new historical high.
① The USA President Trump announced the imposition of high reciprocal tariffs on more than 180 countries and regions globally, causing turmoil in the Asia-Pacific markets; ② Asia-Pacific stock markets collectively plummeted, with significant declines in the Equity Indexes of Australia, Japan, and South Korea, and Gold prices hitting a new high; ③ All USA Equity Index futures plummeted, causing a collective drop of the "Seven Giants" in the US stock market after hours, with investor sentiment becoming increasingly pessimistic.
