Trump calms market tensions, gold plummets, dollar rebounds

On Wednesday, April 23, 2025, U.S. President Trump announced that he had no intention of dismissing Federal Reserve Chairman Powell, further easing market tensions. This statement alleviated risk-averse sentiment, leading to a significant drop in safe-haven assets such as gold and the yen. Meanwhile, the US Dollar Index climbed back above the 99 mark.

Gold futures experienced severe volatility within a single day, with prices surging to $3,500 per ounce before plunging sharply to a low of $3,343.77. JPMorgan noted that due to escalating US tariffs and the intensifying US-China trade war, the risk of an economic recession is rising, and it is expected that gold prices may surpass the $4,000 per ounce milestone next year.

In the foreign exchange market, the dollar rebounded against the yen, appreciating by 0.23% to 141.86. Citigroup predicted that as the U.S. government seeks to address the yen's weakness in upcoming trade negotiations, the yen-dollar exchange rate might strengthen.

Trump's remarks temporarily stabilized market sentiment, although there remains concern over the Fed's independence and future policy direction. As trade negotiations and global economic risks evolve, fluctuations in safe-haven assets like gold and the yen may continue, and investors need to stay vigilant.

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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