Spot gold approaches $4,400/oz after U.S. weekly jobless claims rise to 209k

President Trump proposed raising tariffs on Canadian autos, parts, and steel to 50% by 2027, up from 25%. Detroit automakers (F, GM, STLA) fell 2-4%. ETFs like DRIV and CARZ, with broad exposure, also declined. Tariffs may impact supply chains, benefiting U.S. steel and industrial firms (CLF, NUE, STLD).

Gold and silver prices rose after the U.S. Treasury announced plans to double long-dated T-bill buybacks, lowering long yields and weakening the dollar. Gold reached $4,662.71, its highest since early June, while silver briefly hit $70/oz. The Bank of Korea invested in gold ETFs, and Indian silver imports rebounded under new regulations. Analysts note that sustained gains depend on real yields and Fed policy.

Gold and Bitcoin rose after the U.S. Treasury doubled its long-term bond buybacks, pushing bond prices higher and weakening the U.S. dollar. Gold surged, while Bitcoin gained around 20%. Major U.S. and Japanese stock indexes fell due to high bond yields, geopolitical tensions, and weak AI/semiconductor sectors. WTI crude oil also rose amid U.S.-Iran tensions. The Fed's July meeting minutes indicated potential further rate hikes if inflation persists.

The U.S. imposed 50% tariffs on Canadian imports, risking a trade war. Sectors like automotive, aluminum, and energy are vulnerable due to integrated supply chains. Companies like Magna International (MGA), Teck Resources (TECK), Suncor Energy (SU), and Imperial Oil (IMO) face exposure, while U.S. producers like Nucor (NUE) may benefit. Morgan Stanley suggests potential tariff reductions but warns of margin impacts.

Bitcoin and gold prices rose last week, driven by Treasury bond buybacks and crypto-friendly legislative discussions. Bitcoin climbed above $77,000, while gold reached $4,661. The Treasury's actions aimed to stabilize bond markets but raised inflation concerns. President Trump's support for crypto legislation also boosted bitcoin's price, leading to significant liquidation of bearish positions.

U.S. and Iran signed a 60-day agreement, boosting stock futures. Fed signals possible 2026 rate hike, but Barclays expects rates unchanged through 2027. INTC rose 7% after Apple partnership news. AAPL and MU gained on chip demand. RUM surged 17% post-acquisition. MRNA faces FDA panel review. COIN bought by Ark Invest.