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Gold futures (GC=F) rose to a fresh record on Friday as tariff threats sparked fears of an escalating trade war, while the stock market plummeted. Sticky inflation along with plummeting consumer sentiment prompted investors to continue buying up the safe haven asset. A weaker US dollar (DX-Y.NYB) has also supported higher gold prices. Gold futures surpassed $3,115 ahead of the Trump administration's reciprocal tariffs announcement on April 2. On Wednesday the President announced 25% levies on foreign-made autos . The yellow metal is up more than 17% over the past...

The recent market decline has prompted another Wall Street strategist to revise its S&P 500 forecast lower for 2025. On Friday, UBS Global Wealth Management head of US equities David Lefkowitz predicted earnings would come in weaker than previously expected, prompting a trim to the firm's year-end price target to 6,400 from 6,600 on the broad-based index. “We still believe that US stocks can recover and post gains for the year. However, recent economic weakness and our expectation that tariffs will be at the higher end of our base case...