Company Performance - RH reported quarterly earnings of $2.93 per share, missing the analyst estimate of $3.20 [1] - Quarterly revenue was $899.15 million, falling short of the Street estimate of $904.64 million [1] - Revenue increased by 8.4% year-over-year, with demand rising by 13.7% despite challenging market conditions [2] Market Conditions - The company is facing tariff uncertainties and the worst housing market in nearly 50 years [2] - Strong brands like RH are expected to benefit from potential industry dislocation due to tariffs, while smaller companies may struggle [3] Future Outlook - RH has lowered its fiscal 2025 revenue outlook from a range of $3.49 billion to $3.59 billion to a new range of $3.46 billion to $3.53 billion, compared to the previous estimate of $3.52 billion [4] - The company is hopeful that the investigation into potential tariffs will consider a broad perspective from industry leaders [4] Stock Performance - Following the earnings report, RH stock dropped by 12.8%, trading at $198.91 in extended trading [5]

Core Viewpoint - The gold market is experiencing a significant V-shaped reversal, with prices surging by $45 to challenge the $3400 mark after intense competition between bulls and bears [1][10]. Market Movement - After a volatile session with rapid price fluctuations, gold prices reached a high of $3395 today [3]. - Following this peak, there was a pullback, with prices dropping below the $3380 level [4]. - The next support level is seen at $3373, where a rebound opportunity may arise [5]. - The upward trend continues, with the potential to break above $3400 [6]. - The market is expected to face resistance at $3438 [7]. - However, prices are currently below $3400 and are experiencing another correction [8]. - A drop below $3373 indicates a further decline towards the $3350 support level [9]. Influencing Factors - Recent developments include pressure from former President Trump on the Federal Reserve, which has led to increased concerns about U.S. sovereign credit risk and rising U.S. Treasury yields, benefiting gold prices [10]. - Trump's renewed imposition of tariffs, including on furniture, has put additional pressure on the dollar, further supporting gold's upward movement [11]. - Upcoming speeches from Federal Reserve officials are expected to focus on interest rate cut expectations, with the potential for tariff policies to influence the Fed's decisions [12]. Broader Economic Context - Global central bank debt is reaching critical levels, with Japan's central bank setting a record for debt repayment budgets [13]. - A global trend of interest rate cuts is emerging, leading to an increasing burden of debt [14]. - The year 2025 is anticipated to be significant not only for tariffs but also for challenges facing the financial system due to rising debt levels [15].