Markets closed the week with a steady hand, as the S&P 500 bounced back after recent volatility, giving investors some confidence heading into September’s final stretch. Gold, meanwhile, held firm around the US$3,500 mark, consolidating after its earlier surge and signalling that traders remain cautious but not panicked.

Locally, the Reserve Bank of Australia injected a dose of reality into rate-cut hopes. While markets continue to price in potential easing, the RBA made it clear that cuts aren’t promised—particularly as spending remains resilient and inflationary risks continue to linger. Any surge in consumer demand could see the central bank holding its ground longer than many expect.

Over in the United States, former President Donald Trump floated the idea of establishing his own Federal Reserve if re-elected. The move raises big questions about government overreach and the independence of monetary policy. Critics argue that undermining the Fed’s autonomy could create instability in both domestic and global markets, while supporters suggest it reflects frustration at what they see as a detached central bank.

For now, markets are weighing a recovery in equities against the uncertainty of central banks’ next steps—reminding investors that stability in gold and equities can often mask deeper concerns brewing just beneath the surface.

Enjoy the weekend, remember to do your own research before investing and we’ll catch you next week with more news.

Market Snapshot

Gold – $AU5433
Silver – $AU62.34
US500 – 6506
ASX200 – 8870
AUD/USD – 0.6518

Gold Futures Technical Analysis

Technical indicators for Gold Futures suggest a STRONG BUY on both monthly and weekly analyses.

Technical Indicators – Monthly Projections

RSI(14)	Overbought
STOCH(9,6)	Buy
STOCHRSI(14)	Overbought
MACD(12,26)	Buy
ADX(14)	Overbought
Williams %R	Overbought
CCI(14)	Buy
ATR(14)	High Volatility
Highs/Lows(14)	Buy
Ultimate Oscillator	Buy
ROC	Buy
Bull/Bear Power(13)	Buy