Gold Pricing $6775.30

Silver Pricing: $109.30

Platinum Pricing: $2850.40

Markets are stepping into a more fragile phase, with global tensions once again shaping the economic outlook.

The latest signals out of the United States suggest a shift in how energy security may be handled going forward. Comments pushing allies to secure their own oil point to a more fragmented global system, where supply chains become less cooperative and more competitive.

This shift in energy positioning really matters. Energy sits at the centre of the global economy, and any disruption or uncertainty quickly flows through to inflation, production costs, and overall growth expectations. It’s not an immediate shock, but a steady pressure that builds across industries.

We’re already seeing the early signs of that pressure filtering into markets. Equities are beginning to lose momentum, with both US and local indices showing signs of fatigue. Growth expectations are being reassessed, and volatility is starting to creep back in.

Gold and silver, after last week’s sharp pullback, are beginning to stabilise. The move isn’t aggressive, but it is telling. In periods where confidence in risk assets starts to fade, precious metals tend to quietly regain attention.

Locally, there are also signs that higher interest rates are starting to take effect. Property markets in Sydney and Melbourne have begun to soften, reflecting reduced borrowing capacity and more cautious buyer behaviour. With policy uncertainty still in play ahead of the Federal Budget, particularly around negative gearing, investor activity may remain subdued in the near term.

Enjoy today’s charts.

Gold daily chart, with 50MDA