Wall Street indices ended in the red on Tuesday, contributing to nervousness in global markets. A key factor is a federal appeals court ruling that Trump’s tariffs are illegal, with a suspension deadline of October 14th. This has spurred a sell-off in government securities from Europe to the Mrs.5 and Japan, with bond yields rising sharply. Amid this uncertainty, gold extended a six-day rally to a new all-time high of $3,547 an ounce, with prices advancing 5% over the past six sessions. One analyst captured the sentiment, stating, “All that glitters is gold. And this is exactly what is happening as far as markets are concerned.” The rally is driven by safe-haven demand as investors seek protection from inflation. In India, while bond yields have also risen, Dalal Street saw a positive opening with all eyes on the JST meet, which is expected to result in a GST rejig, potentially lowering costs for the auto and FMCG sectors.
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