Tariff-induced trade tensions and central bank manoeuvres have pushed gold prices past a historical high of $3,341 per ounce. The SPDR Gold Trust gained +6.46% in the last week as investors poured into safe haven assets amid growing concerns over inflation and trade.

What does this mean for you?

With President Trump hinting at new tariffs on imported chips and semiconductors, tech and related sectors remain in flux, along with the broader manufacturing landscape. 

As ongoing trade tensions raise the possibility of more market unrest, gold becomes an enticing alternative. With the US dollar weakening to a three-year low, analysts predict that gold could hit the $3,500 per ounce mark soon.

For international investors whose confidence in the dollar is flagging, gold could offer some shelter amid the turmoil. 

Defence is Your Best Offence

While equity markets are rocky now, we recommend taking a balanced approach to portfolio allocation. 

For investors who prefer a more hands-off approach, consider Syfe’s Core Balanced portfolio, which is designed to be resilient during market downturns. It has an 11% allocation to gold ETFs and 50% to broad diversified bonds (50%), while providing exposure to global equity ETFs (39%).

Year-to-date, it has outperformed benchmarks with a +0.18% return against the S&P 500’s -0.61%.

With an average annual return (8Y) of 5.17%, Core Balanced is a great choice for investors seeking risk mitigation and less volatility in a high-risk macro environment.

Investors looking to invest in gold can consider the SPDR Gold Shares, the largest gold ETF with an AUM of US$99B (as of 15 April 2025).

Market Recap

Equity indexes see some calm after the last two weeks’ turmoil. Treasuries also rally, with the 5-year note leading gains in the US government debt market. Still, uncertainty prevails with upcoming tariffs on chips and semiconductors sending these industries into flux.

Key Events Next Week

This week, investors will closely monitor the following key events:

• Mon: –
• Tue: Tesla earnings
• Wed: US manufacturing and services PMIs, Singapore YoY CPI (March)
• Thur: Procter & Gamble, Alphabet Inc. earnings
• Fri: –