Here’s a rundown of today Top News Headlines:
- Gold Hits All-Time High: Gold prices have surged past $3,100 per ounce, reaching a record high. This spike is largely driven by investor fears over U.S. President Donald Trump’s proposed tariffs, set to kick in on April 2, which could spark a global trade war. The uncertainty is pushing people toward safe-haven assets like gold, with prices climbing nearly $1,000 per ounce since mid-March 2024. Analysts suggest this could be gold’s strongest quarter since 1986, with some forecasting prices as high as $3,500 by year-end if trade tensions and inflation fears persist. However, a short-term correction isn’t ruled out if tariff clarity emerges.
- Economic Fallout from Tariffs: Global markets are jittery as Trump’s tariff plans loom large. Equity markets dropped yesterday, and Goldman Sachs raised its U.S. recession odds to 35% from 20%, citing the risk of 15% average tariffs across all U.S. trading partners. Inflation concerns are also spiking, with core inflation measures expected to hit 3.5% in 2025, well above the Federal Reserve’s 2% target. This is shaking up everything from stock markets to consumer spending outlooks.
- Natural Disaster Aftermath: A recent earthquake in Southeast Asia, particularly affecting Myanmar, continues to dominate headlines. Rescue operations are underway, with significant loss of life and infrastructure damage reported. The focus is on relief efforts, but exact figures and updates from today are scarce.
- Geopolitical Maneuvering: There’s ongoing buzz about U.S. foreign policy shifts, including ceasefire talks in conflicts like Russia-Ukraine and Gaza. Meanwhile, satellite images reportedly show Chinese military activity in the South China Sea, adding to global tensions. These developments are contributing to the broader uncertainty fueling gold’s rally.
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