The German stock index opened the trading day on Friday morning with a cautious mood. By 9:30 a.m. local time the DAX was quoted around 24,850 points, a little below its closing level the previous day.
According to Jochen Stanzl, chief market‑analyst at Consorsbank, “If we pile up all the dominant factors of this still‑young 2026 market year – the Greenland‐related uncertainty that is fading, the tariff threats that have been lifted, and the record high after the longest winning streak in DAX history – the index sits roughly at 24,900 points, a neutral zone”. He added that the current level lies right between the annual low and the record high. “For the index to rise above 24,900 points, investors now need a stronger assurance from companies that their robust profit expectations for 2026 are realistic. The easing Greenland anxiety opens a window for investors to focus more on the upcoming earnings season”.
Stanzl also pointed out that DAX investors expect a 15 % earnings growth from the 40 major German companies in 2026, which is higher than the approximately 13.5 % forecast for the S&P 500. With the German government’s massive infrastructure and defense budgets, investors are betting on a comeback of the national economy. Should corporate figures fail to meet these expectations, the prevailing optimism could quickly reverse.
In the precious‑metals market, the gold price is moving in large steps toward the $5,000 threshold. “Being present is everything when it comes to gold – and the fear of missing a historic rally is likely an increasing driver behind the price rises” Stanzl said. Gold investors receive almost daily positive news, most recently when the Polish central bank announced plans to buy an additional 150 tons of gold. Central banks and private investors are racing to purchase, pushing the price ever higher. A price of $5,000 for gold and $100 for silver appears to be a matter of time.
The euro weakened on Friday morning: one euro was worth 1.1731 U.S. dollars, while one dollar traded at 0.8524 euros.
Gold’s market price was lower in the morning, at $4,912 per fine ounce, a drop of 0.5 % – equivalent to €134.63 per gram.
Meanwhile, oil prices rose: a barrel of North Sea Brent was quoted at $64.39 at 9 a.m. German time, up 33 cents, or 0.5 %, from the close of the previous trading day.
