Gold reaches new heights while oil holds steady

European indices suggest a cautious market sentiment with a flat opening

By Farah Mourad | 4 April 2024

Market open
  • Asian session saw mostly higher trading

  • Australian Dollar and New Zealand Dollar displaying strength among major currencies

  • Gold prices hover around $2,300

Stock Market

Despite a lower start to the cash session, Wall Street indices ended yesterday's trading session on a positive note. However, the Dow Jones Industrial Average lagged behind, experiencing a slight decline.

As for the Asian session it traded mostly higher today, with notable gains seen in the Nikkei, S&P/ASX 200, and Nifty 50. However, traders observed lower activity in China and Hong Kong due to public holidays. Among major currencies, the Australian Dollar (AUD) and New Zealand Dollar (NZD) showed strength, while the Japanese Yen (JPY) and US Dollar (USD) lagged behind.

European index futures indicate a flat or slightly lower opening for today's cash session. The market sentiment appears cautious as investors await further developments.


Energy commodities are trading relatively unchanged, consolidating recent gains that propelled prices to over a five-month peak. Concerns about supply disruptions and tight global supply continue to support prices.

Gold prices are hovering around $2,300 after reaching a lifetime high of $2,305 earlier today. The persistent weakness in the US Dollar and declining US Treasury bond yields are driving gold prices higher.

Economic Calendar

The economic calendar for today includes the release of services PMI data from European countries. However, most of these releases are revisions to previously published data for March and may not significantly impact the markets. The release of ECB minutes today may lead to some movement in the Euro (EUR).