Gold traders in the U.S. have been playing the same game every morning — and it’s getting old.
Every day for the past week, gold futures push up to $2,972 pre-market… and then at 9 AM sharp, they dump it $20. Over and over. It’s like clockwork.
Now, this kind of action isn’t unusual. Gold has always had a way of frustrating traders before making its next big move. These sharp reversals are often driven by large institutions looking to shake out weak hands before positioning themselves for the next leg up.
But that’s not stopping me from sticking to the plan — we finally got filled on an exit for one of our Gold Stream strategy trades, meaning we’ve got just one more hanging out there.
The Bigger Story: Layoffs Are Piling Up
While gold wrestles with its next move, the broader market is dealing with another problem — layoffs.
Today, Starbucks (SBUX) announced 1,100 job cuts, adding to the growing list of companies trimming their workforce.
But it’s not just a Starbucks issue. We’ve been seeing layoff announcements picking up across multiple sectors — tech, retail, finance, and more.
And that raises a big question:
Is the economy actually as strong as it seems, or is it on shakier ground than we thought?
Layoffs tend to be a lagging economic indicator, meaning they show up after the economy has already started slowing. Companies don’t usually start cutting jobs unless they see something on the horizon that concerns them.
So while the official economic data may still look healthy, the real-time moves by corporations tell a different story.
For now, the market is still trying to figure out what it all means — but I’ll be watching closely to see if this trend accelerates.
The X-Factor: NVDA Earnings
Meanwhile, Wednesday brings what is probably the most closely-watched earnings report of the season: NVDA.
Let’s think back to the end of January… remember Monday the 27th? That’s the day NVDA suffered the biggest single day loss in the market — ever. Over $600,000,000,000 wiped off of NVDA’s market share.
All because of news out of China that their DeepSeek AI was created in a fraction of the time and with a fraction of the computing power of popular US-based AI models, like ChatGPT.
And while NVDA has gained back about half of that value in the 4 weeks since the big selloff, things are anything but certain about NVDA as the stock has not approached the highs it had hit previously.
So Wednesday’s earnings report is going to have effects on all of the tech industry — and beyond.
That’s why my Editor-in-Chief, Stephen Ground has gathered 5 market experts — Jack Carter, Graham Lindman, Roger Scott, Kane Shieh, Nate Tucci — for an NVDA Earnings Roundtable.
They’ll catch us up on the latest with NVDA and — most importantly — walk through the possible scenarios so you can be prepared no matter what happens next.
This free session will cover:
✅ What to expect from NVDA’s earnings and how it could impact the broader market
✅ How the DeepSeek AI news might still be a lurking risk
✅ Strategies for playing NVDA before and after the announcement
You don’t want to miss this one. If you want to go into Wednesday’s earnings with a plan, click here to save your spot now.
UPDATE: Even though NVDA Earnings are over — I urge you to catch the replay here. These market pros shared tons of tips for playing any kind of earnings, plus lots of other market tips.
Stay sharp,
— Geof Smith
