Amillex Daily Market Review | Dollar Strength Triggers Long Liquidation — Can Geopolitical Risks Support Gold?

March 4, 2026 — Global financial markets were hit by sharp volatility as multiple macro forces collided. On Tuesday, spot gold came under heavy selling pressure, dropping more than 4% intraday to trade near $5,123 per ounce. Expectations for the Federal Reserve’s first rate cut have now been pushed back from July to September. As the rate-cut outlook softens, investors have shifted toward a “cash is king” stance amid extreme volatility, temporarily weakening gold’s short-term appeal. Although prolonged tensions in the Middle East continue to raise longer-term inflation concerns, tighter liquidity conditions have made it difficult for gold to sustain its previous one-way rally. Gold futures closed down 3.5%, reflecting defensive repositioning at elevated levels.

Tổng quan về hiệu suất tài sản và các yếu tố cơ bản.

1. Thị trường chứng khoán Mỹ

Hiệu suất chỉ số

Chỉ số Dow Jones Industrial Average (DJI):48,501.27, down over 400 points (-0.83%).

S&P 500 (SP500):6,807.07, up slightly by 0.02%. The index traded in a tight range, with bulls and bears battling around the 6,800 level.

Nasdaq 100 (Quý 1 năm 2021):24,720.00, down 0.14%. Growth and tech stocks have lost momentum after the recent rally, as markets reassess uncertainty around the rate path.

Tiêu điểm cổ phiếu

Tesla (TSLA):$392.43, down 2.70%. As a bellwether growth stock, Tesla’s pullback weighed on the Nasdaq, driven by concerns over slowing downstream demand growth and margin pressure.

2. Thị trường ngoại hối

Chỉ số đô la Mỹ (DXY): 99.178, up 0.11%. The dollar remains resilient above the 99 level, supported by renewed safe-haven flows amid global growth uncertainty.

EUR/USD: 1.15943, down 0.16%. Weak growth momentum in the Eurozone and a still-wide U.S.-EU rate differential continue to limit the euro’s rebound potential.

USD/JPY: 157.613, down 0.05%. The yen is showing some resistance near the 158 level, with markets closely watching the Bank of Japan’s stance on inflation expectations.

3. Kim loại quý và hàng hóa

Kim loại quý

Vàng giao ngay (XAUUSD): $5,133.88 per ounce. Despite recent volatility, gold remains firm above the $5,100 level, supported by safe-haven demand and ongoing central bank purchases, making it a key macro hedge asset.

Bạc giao ngay (XAGUSD): $83.1026 per ounce. Silver continues to show higher volatility than gold, driven by its dual role as both an industrial and safe-haven asset.

Hàng hóa

Dầu thô (XTIUSD): $75.06 per barrel, up 0.20%. Oil prices are finding technical support near $75, backed by geopolitical risk and expectations of tight supply conditions.

4. Tài sản tiền điện tử và các diễn biến vĩ mô

Bitcoin (BTCUSD): $68,028, down 0.45%. BTC remains in consolidation below the $70,000 mark, with limited liquidity premium preventing it from rallying in tandem with gold.

Ethereum (ETHUSD): $1,966.80, down 0.82%. ETH continues to underperform the broader crypto market, reflecting insufficient on-chain activity and application-layer innovation to support a breakout move.

5. Trọng tâm hôm nay