Key Takeaways
- Gold breaks above $3,480 to set a new all-time high as investors flee to safe-haven assets.
- The Relative Strength Index (RSI) signals strong bullish momentum, despite overbought conditions.
- Crypto markets are flat; European stocks edge lower after the Easter holiday.
- President Trump’s attacks on Fed Chair Jerome Powell spark fresh concerns about the Fed’s independence.
As global markets return from the Easter break, investors are grappling with a mix of geopolitical tensions, political pressure in the U.S., and fading confidence in traditional financial stability.
Risk sentiment is shifting, and it’s becoming increasingly clear where investors are finding shelter.
From gold’s sharp move upward to cautious trading across equities and a flat crypto market, this week’s landscape is defined more by uncertainty than direction.
As political friction grows, especially in the U.S., safe-haven assets are starting to dominate the conversation.
Gold Hits Record High as Investors Seek Shelter
Gold surged to a new all-time high above $3,480 per ounce on Tuesday, with rising geopolitical tensions and political uncertainty fueling demand for safe-haven assets.
The rally reflects growing investor anxiety about the global economic outlook, intensified by U.S. political drama and ongoing skepticism around the Federal Reserve’s independence.
The Relative Strength Index (RSI) remains in overbought territory, signaling that the momentum behind gold’s rise is still strong. Despite the lofty price levels, some analysts say this could just be the beginning of a deeper shift in investor behavior.
Rania Gule, Senior Market Analyst at XS.com – MENA, told CCN, “From a fundamental perspective, I expect gold to remain supported in the near term, as markets still lack strong economic catalysts from the U.S., leaving prices vulnerable to shifts in investor sentiment and political headlines.”
“I believe this is more than a temporary price move. It reflects a deeper, escalating state of global uncertainty that continues to dominate financial markets,“ Gule added.
According to the analyst, even a slight pullback from this historic level may serve as a consolidation phase — a pause for buyers to regroup before pushing higher.
Crypto Holds Steady as Stocks Dip
The global crypto market cap has risen to $2.77 trillion, marking a modest 0.3% gain over the past day. Trading activity surged, with total market volume hitting $89.2 billion — a 35% jump from the previous day.
DeFi protocols accounted for $6.71 billion of that volume, while stablecoins continue to dominate trading, contributing $83.87 billion.
Bitcoin’s market dominance increased to 63.48%, reflecting a 0.40% increase. BTC’s price was almost flat the day before, remaining at around $88,500.
In Europe, major stock indexes opened cautiously following the Easter break. Germany’s DAX dipped 0.3%, France’s CAC 40 edged down 0.2%, and the UK’s FTSE 100 was largely flat.
U.S. futures pointed to a slightly brighter open, with S&P 500 and Dow futures up around 1% and 0.8%, respectively.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, told CCN, “There was no Easter surprise for European markets, opening with a cautious note this morning, taking cues from the broad risk-off sentiment spreading around the globe.“
“This lack of certainty is sending investors right into the arms of traditional safe-haven assets, with gold and the Japanese yen both cashing in on the drama,” he added.
Trump’s Fed Criticism Fuels Market Jitters
Much of the market unease can be traced to Washington. President Donald Trump’s public criticism of Federal Reserve Chair Jerome Powell has raised fresh questions about the central bank’s independence — something markets take very seriously.
“These attacks have raised concerns about the independence of monetary policy, pushing investors toward gold as a store of value in uncertain times,” Gule said.
Some reports suggest the Trump administration may be exploring legal avenues to remove Powell before his term expires next year. That possibility, while unconfirmed, has spooked investors.
“Eroding trust in the Fed’s ability to act independently weakens the U.S. dollar — something already evident as the greenback continues to decline to its lowest level in three years,” Gule added.
AJ Bell’s investment director, Russ Mould, echoes these concerns. “If the administration is able or willing to follow through on its threat to fire Fed chair Jerome Powell before his term is up next year, it could provoke an even stronger reaction amid fears about the implications for inflation.“
In that kind of environment, even traditional safe havens like the U.S. dollar and Treasurys start to feel shaky. That’s why gold—seen by many as the ultimate crisis asset—is drawing so much attention.
“U.S. currency and government debt are often a haven during market turbulence, but with America being the source of much of the recent volatility, investors have been reaching for another obvious port in the storm, gold, in large numbers,” Mould added.
‘Bitcoin Is Like Gold,’ Says Fed Chair Jerome Powell, Downplays Dollar Threat
