{"id":3643,"date":"2026-01-20T14:44:30","date_gmt":"2026-01-20T03:44:30","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3643"},"modified":"2026-01-20T14:44:31","modified_gmt":"2026-01-20T03:44:31","slug":"amillex-daily-market-commentary-tariff-tensions-reignite-gold-targets-the-4700-level","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2026\/01\/20\/amillex-daily-market-commentary-tariff-tensions-reignite-gold-targets-the-4700-level\/","title":{"rendered":"Commentaire quotidien d&#039;Amillex sur les march\u00e9s | Les tensions tarifaires se ravivent, l&#039;or vise le niveau des 4700 $"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-769a40813df3830b14449154d3d31db7\" style=\"font-size:18px\">Le 20 janvier 2026, les march\u00e9s mondiaux ont subi une double pression, due \u00e0 l&#039;incertitude tarifaire et aux man\u0153uvres g\u00e9opolitiques, propulsant la demande de valeurs refuges \u00e0 des niveaux records. L&#039;or au comptant a bondi de plus de 1,51 TP3T lundi, atteignant un record de 4\u00a0690,46 USD l&#039;once et s&#039;approchant du seuil cl\u00e9 des 4\u00a0700 USD. L&#039;argent au comptant a maintenu une forte dynamique haussi\u00e8re, se n\u00e9gociant autour de 93,40 USD, bien que son cours se soit consolid\u00e9 \u00e0 un niveau \u00e9lev\u00e9 apr\u00e8s avoir bri\u00e8vement test\u00e9 la zone historique des 94,099 USD. En revanche, le p\u00e9trole brut am\u00e9ricain est rest\u00e9 relativement stable autour de 59,36 USD le baril, l&#039;apaisement des troubles en Iran compensant en partie la prime de risque g\u00e9opolitique. Globalement, l&#039;escalade des tensions commerciales li\u00e9es au diff\u00e9rend du Groenland acc\u00e9l\u00e8re les flux de capitaux vers les actifs physiques, la volatilit\u00e9 des march\u00e9s entrant dans une nouvelle phase d&#039;expansion.&nbsp;<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center has-black-color has-text-color has-link-color has-medium-font-size wp-elements-b0712a296f5807d99dde4975cc28bb78\"><strong>Analyse fondamentale et de la performance des actifs<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-0819a3863ca0df6beba3bcd366ba958e\" style=\"font-size:18px\"><strong>1. March\u00e9s boursiers am\u00e9ricains<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-11a8b7ba65f6a75934a331b5b63d7d73\" style=\"font-size:18px\"><strong>Performance de l&#039;indice<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-a5cc28ec8046c5b3a535c2558f8ae995\" style=\"font-size:18px\"><strong>Moyenne industrielle Dow Jones<\/strong>L&#039;indice se situe actuellement autour de 49\u00a0360 points (-0,17%). Il se consolide pr\u00e8s de ses pr\u00e9c\u00e9dents sommets, ce qui refl\u00e8te la forte sensibilit\u00e9 des secteurs industriels traditionnels aux tensions commerciales potentielles.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-c26cf3ab79abbffa9cf64d86d915abc7\" style=\"font-size:18px\"><strong>Indice S&amp;P 500<\/strong>Actuellement autour de 6\u00a0880 points (-0,06%). Bien que le seuil des 7\u00a0000 points soit \u00e0 port\u00e9e de main, la prudence demeure de mise chez les investisseurs. Les flux de capitaux pr\u00e9sentent une nette divergence structurelle, avec une pr\u00e9f\u00e9rence pour les secteurs d\u00e9fensifs.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-c8cf44975003d7d00d0fd1e43ef707bc\" style=\"font-size:18px\"><strong>Indice composite Nasdaq<\/strong>Actuellement autour de 23\u00a0350 points (-0,06%). Les valeurs technologiques restent relativement r\u00e9silientes, soutenues par de solides fondamentaux dans la cha\u00eene d&#039;approvisionnement des puces d&#039;IA, ce qui compense en partie la pression \u00e0 la vente li\u00e9e \u00e0 l&#039;aversion au risque caus\u00e9e par l&#039;incertitude tarifaire.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-76199a22138055dfcd7636607a275dcd\" style=\"font-size:18px\"><strong>Mise en avant de l&#039;action&nbsp;<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-a0f66fc2ab9b22f251e00447e24f617f\" style=\"font-size:18px\"><strong>NVIDIA (NVDA)\u00a0:\u00a0<\/strong>Cl\u00f4ture \u00e0 environ 186,23 USD. Le titre est actuellement en phase de rotation des positions, et les investisseurs doivent \u00eatre attentifs aux pressions potentielles sur les marges dues \u00e0 la r\u00e9percussion des co\u00fbts de la cha\u00eene d&#039;approvisionnement.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-f7397c4fcc210b1bc8b1b9f1722c1d25\" style=\"font-size:18px\"><strong>2. March\u00e9 des changes<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-b475ca8abf2759287a0cb5c8e3654c21\" style=\"font-size:18px\"><strong>Indice du dollar am\u00e9ricain (DXY)<\/strong>: Actuellement autour de 99,05, en l\u00e9g\u00e8re baisse sur la journ\u00e9e avec un recul d&#039;environ 0,34%.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-12c903d090a6e2d30d883738679fee30\" style=\"font-size:18px\"><strong>EUR\/USD<\/strong>\u00c0 1,1640. En raison des menaces de droits de douane am\u00e9ricains contre certains pays europ\u00e9ens, l&#039;euro continue de tester des supports \u00e0 des niveaux inf\u00e9rieurs. Malgr\u00e9 un l\u00e9ger rebond technique en s\u00e9ance, la paire pourrait franchir le seuil psychologique de 1,1600 si la crise du Groenland et les mesures de r\u00e9torsion commerciale s&#039;aggravent.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-f7a9d324c6f486a24df0d6aded101fa2\" style=\"font-size:18px\"><strong>USD\/JPY<\/strong>\u00c0 158,09, le yen japonais a trouv\u00e9 un peu de r\u00e9pit en territoire de survente extr\u00eame et tente de former une base \u00e0 court terme pr\u00e8s du niveau de 158,00.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-ff6a8b443a8bd973ca90a6f1108af1cf\" style=\"font-size:18px\"><strong>3. M\u00e9taux pr\u00e9cieux et mati\u00e8res premi\u00e8res<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-c39cbaecb9bf76e699535ea0988df6dd\" style=\"font-size:18px\"><strong>M\u00e9taux pr\u00e9cieux<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-9217fccb0ae9349fafc9f387ec924bb5\" style=\"font-size:18px\"><strong>Or au comptant (XAUUSD)<\/strong>Objectif\u00a0: le niveau des 4\u00a0700. L\u2019or reste exceptionnellement fort aujourd\u2019hui, sous l\u2019effet des tensions g\u00e9opolitiques croissantes autour du Groenland et de l\u2019intensification des frictions tarifaires entre les \u00c9tats-Unis et l\u2019UE, provoquant un afflux massif de capitaux vers les valeurs refuges.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-c4dc1e56acec5e242ba0846f7c644a68\" style=\"font-size:18px\"><strong>Argent au comptant (XAGUSD)<\/strong>Apr\u00e8s avoir franchi le seuil des 93 USD, les cours ont atteint un sommet intraday proche de la zone historique des 94,099 USD l&#039;once. Bien qu&#039;ils aient recul\u00e9 autour de 93,40 USD durant la s\u00e9ance nord-am\u00e9ricaine, refl\u00e9tant des prises de b\u00e9n\u00e9fices suite \u00e0 ces sommets extr\u00eames, la tendance haussi\u00e8re de fond demeure solidement ancr\u00e9e, soutenue par le contexte de r\u00e9\u00e9valuation macro\u00e9conomique.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-9475610fc825ef459f8fc74a4c4a5372\" style=\"font-size:18px\"><strong>mati\u00e8res premi\u00e8res<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-b9a61d325b114e7fbee8f38bd014f6ea\" style=\"font-size:18px\"><strong>P\u00e9trole brut WTI<\/strong>Le prix du p\u00e9trole se situe actuellement autour de 59,36 dollars am\u00e9ricains le baril. En l&#039;absence de nouveaux catalyseurs haussiers, l&#039;attention du march\u00e9 s&#039;est port\u00e9e sur les inqui\u00e9tudes li\u00e9es \u00e0 la demande, maintenant ainsi les prix du p\u00e9trole dans une faible phase de consolidation sous la barre des 60 dollars am\u00e9ricains.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-fb770fc8695bc385806f4a7709b0a113\" style=\"font-size:18px\"><strong>4. Actifs crypto et \u00e9volutions macro\u00e9conomiques<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-8d07414580bfb5a201aa1e1e2005fddc\" style=\"font-size:18px\"><strong>Bitcoin (BTC)<\/strong>Le climat d&#039;aversion au risque p\u00e8se sur le Bitcoin, ramenant les cours vers le niveau de support des 92\u00a0000. Affect\u00e9 par les probl\u00e8mes de liquidit\u00e9s li\u00e9s aux tensions tarifaires entre les \u00c9tats-Unis et l&#039;UE, le Bitcoin n&#039;a pas progress\u00e9 au m\u00eame rythme que l&#039;or et a subi des pressions, se n\u00e9gociant actuellement autour de 92\u00a0580\u00a0USD.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-be8ce99805aa3bef8bd11b56c3318bb8\" style=\"font-size:18px\"><strong>Ethereum (ETH)<\/strong>Affichant une force remarquable aujourd&#039;hui et \u00e9voluant de mani\u00e8re ind\u00e9pendante, actuellement autour de 3\u00a0175\u00a0USD. Apr\u00e8s une longue p\u00e9riode de consolidation, l&#039;ETH a finalement lib\u00e9r\u00e9 un fort \u00e9lan de rattrapage, parvenant \u00e0 reconqu\u00e9rir et \u00e0 se maintenir au-dessus du seuil critique de 3\u00a0100\u00a0USD.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-7cbbe4a780179d5456937f2064e7e93d\" style=\"font-size:18px\">5.&nbsp;<strong>Sujet du jour<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-e03d4979e40520ca4b87e763e2dc3360\" style=\"font-size:18px\">\u00c9volution du nombre de demandeurs d&#039;emploi au Royaume-Uni en d\u00e9cembre\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-40be6168c78cf76b79f86818e01858f0\" style=\"font-size:18px\">Salaires moyens trimestriels au Royaume-Uni, en glissement annuel\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-ac54d4ca4dd88fc3b04c3448f76ae05a\" style=\"font-size:18px\">R\u00e9union annuelle du Forum \u00e9conomique mondial (WEF) \u2013 Jour 2\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-cb95d65e3441849439da75645f6943d9\" style=\"font-size:18px\">Discours du gouverneur de la Banque d&#039;Angleterre, Bailey\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>On January 20, 2026, global markets faced a dual squeeze from tariff uncertainty and geopolitical maneuvering, driving safe-haven demand to new highs. Spot gold surged over 1.5% on Monday, extending its rally to a record USD 4690.46 per ounce and approaching the key USD 4700 level. Spot silver&nbsp;maintained&nbsp;strong upside momentum, trading near USD 93.40, though [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":3645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/comments?post=3643"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3643\/revisions"}],"predecessor-version":[{"id":3644,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3643\/revisions\/3644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/3645"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=3643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=3643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=3643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}