Gold Fundamentals and News:
• Trump imposed a 10% tariff on all imports, with higher duties on major trading partners, triggering global
market shocks.
• China’s Commerce Ministry vows to take countermeasures, increasing the risk of a broader trade war.
• Trade tensions boost demand for safe-haven assets, pushing Gold to a new record high.
• Investors worry Trump’s policies may lead to a US recession, pricing in a 70% chance of a Fed rate cut in June.
• Anti-risk sentiment pushes US Treasury bond yields lower, weakening the USD.
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