You are currently viewing Amillex Daily Market Update | Oil prices surge sharply, triggering liquidity tightening, while gold prices come under pressure and fall below the 4,700 level.

Amillex Daily Market Update | Oil prices surge sharply, triggering liquidity tightening, while gold prices come under pressure and fall below the 4,700 level.

On April 3, 2026, global financial markets were closed in observance of Good Friday. However, the sharp volatility from Thursday’s gold and oil markets is still echoing.

Spot gold staged a classic spike-and-drop move. Prices briefly touched a two-week high near $4,800, but were quickly hit by strong selling pressure. Gold fell about 1.7% intraday, closing around $4,676, breaking below the key psychological level of $4,700.

Market Breakdown & Fundamentals

1. US Equities

Index Performance

  • Dow Jones (DJI): 46,504.67 (-0.13%)
     Hovering around the 46,500 level with ongoing tug-of-war price action.
  • S&P 500 (SPX): 6,590.46 (+0.01%)
     Market balancing between strong energy stocks and a pullback in tech.
  • Nasdaq 100 (NDX): 24,220.00 (+0.01%)
     High-valuation growth stocks are losing momentum amid rising rate expectations.

Stock Focus

  • Tesla (TSLA): $360.59 (-5.42%)
     Seen as a key risk asset indicator, Tesla faced heavy selling as liquidity concerns increased.

2. Forex Market

  • Dollar Index (DXY): 99.98 (-0.04%)
     Still holding firm near the 100 level despite minor fluctuations.
  • USD/JPY: 159.50 (-0.06%)
     Yen remains below 160, with safe-haven demand and interest rate differentials battling for direction.
  • EUR/USD: 1.1542 (+0.03%)
     Euro remains weak under dollar pressure, with limited rebound momentum.

3. Precious Metals & Commodities

Precious Metals

  • Gold (XAUUSD): $4,676.74 (-1.71%)
     Sharp pullback from $4,800 due to rising rate expectations and profit-taking under liquidity pressure.
  • Silver (XAGUSD): $72.997 (-2.81%)
     More volatile decline, reflecting higher sensitivity to macro shifts.

Commodities

  • Crude Oil (WTI): $112.23 (+13.18%)
     Driven by escalating Middle East tensions and supply risks, marking one of the largest single-day gains recently. Oil is now the key driver of inflation expectations.

4. Crypto & Macro

  • Bitcoin (BTC): $66,745 (-0.22%)
     Consolidating near $67K as market focus shifts toward traditional safe-havens like USD and energy.
  • Ethereum (ETH): $2,051.9 (-0.24%)
     Following broader market sentiment, with cautious capital inflows.

5. Key Data to Watch Today

  • US Average Hourly Earnings (MoM) – March
  • US Non-Farm Payrolls (NFP) – March
  • US Unemployment Rate – March