Crude oil prices rose alongside stocks yesterday as an apparent delay in US auto tariffs and progress on implementing the USMCA trade agreement – the replacement for NAFTA – buoyed market-wide sentiment. Gold prices stalled as swings between risk-on and -off extremes fueled divergence in bond yields and US Dollar. That put the metal’s defining anti-fiat and non-interest-bearing attributes in conflict. Prevailing macro trends in market mood are likely to remain the driving catalyst from here. G10 FX markets are showing risk-off signs in Asia Pacific trade and the bellwether S&P 500 are trading lower, but this may be ... (full story)