100 Days In: Trump’s ‘Strategic Uncertainty’ on Tariffs Leaves Markets Guessing

DoubleLine CEO Jeffrey Gundlach, often called the “bond king,” has reinforced his bullish stance on gold, predicting the precious metal will reach $4,000 per ounce. This forecast comes as gold recently surpassed the $3,000 milestone for the first time. Gundlach has maintained this positive outlook for several years, dating back to when gold was trading around $1,800. While he’s hesitant to commit to a timeline for reaching $4,000 this year, he bases his prediction on technical analysis of gold’s previous price consolidation patterns. Additionally, Gundlach highlighted the significant acceleration in central bank gold purchases, which he described as following a

Consumer sentiment in the US has plummeted to a 29-month low of 57.6 in March, down from 64.7 in February, according to the University of Michigan survey. The post-election optimism has vanished as Americans worry about inflation from President Trump’s tariffs and uncertainty around economic policies. Expectations for the next six months dropped sharply to 54.2 from 64.0, reaching a level not seen since mid-2022. Even Republican confidence has declined by 10% despite initial post-election enthusiasm. The stock market has responded negatively to the tariffs and recession concerns, while inflation expectations have hit a 29-month high.

A century-old market indicator called the Dow Theory is signaling trouble ahead for stocks. The theory states that movements in the Dow Jones Industrial Average must be confirmed by transport stocks to be sustainable. Currently, the Dow Jones Transportation Average has fallen 19% from its November peak, nearing bear-market territory, while the Industrial Average is down 9.3% from its December high. This bearish signal comes amid worrying forecasts from airlines and retailers citing weak demand, and growing concerns about the impact of the Trump administration’s tariff policies on inflation and economic activity.