Trump's tariffs once again wield the big stick, and gold now shows a "guillotine"

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Source: Jintou.com

Today is Thursday (April 2nd). During the Asian trading session, the latest spot gold price is 1038.13 yuan/gram, down 15.04 yuan from the previous trading day, a decline of 1.43%, showing a volatile trend within the day. The opening price was 1052.78 yuan/gram, with the highest reaching 1062.45 yuan/gram and the lowest dropping to 1029.30 yuan/gram.

【Breaking News】

According to reports, the Trump administration is planning to reshape the steel and aluminum tariffs system, aiming to eliminate complex component calculation rules and instead impose tariffs based on the total value of imported goods.

According to sources, the plan announced by the President as early as this week will stipulate: products containing steel or aluminum (derivatives), regardless of metal content, will be uniformly taxed at 25%. This move aims to end the cumbersome compliance process where companies had to precisely calculate the metal value proportion in their products.

Although the nominal tariff rates for some goods are slightly reduced, the actual tax burden may not decrease and could even increase. Since the tariff base shifts from “metal content” to “total value of goods,” the import costs for end products like cars and furniture will significantly rise. This adjustment not only compensates for the revenue gap caused by the Supreme Court ruling invalidating some tariffs but also continues the Trump administration’s “America First” protectionist approach.

In response, the “Prosper America Alliance,” representing domestic steel and aluminum companies, expressed support, believing it will strongly protect the domestic industry. However, for manufacturers relying on imported metal components, this undoubtedly means a comprehensive increase in supply chain costs. Although the White House spokesperson did not confirm specific details, they reiterated the strategic intent to bring key manufacturing back to the U.S.

【Latest Spot Gold Market Analysis】

On Thursday morning, Trump delivered a victory speech, causing gold to plummet by $150, while crude oil surged by 5%. Originally, I wanted to emphasize that the rebound was nearing its end and prepare to short, but the market dropped immediately in the morning. I am now uncertain whether the rebound has ended and whether 4800 is the high point of this rebound. There will be non-farm payroll data tomorrow, and I don’t know what news might come out over the weekend. But what I can be sure of is that future operations will mainly focus on short positions. After the sharp decline in the morning, watch for shorting opportunities around the rebound at 4730-4740. The strong support below is around 4625-4600; touching this support could be a short-term rebound opportunity.

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