Markets on Edge as Trade Tensions Rise and Gold Hits Record High

Global markets are tense as U.S. trade policy shifts, with Trump raising tariffs and Federal Reserve Chair Powell set to speak. Gold reaches record highs, while oil prices recover. Chinese retaliatory duties begin, impacting stock indexes. Markets await further details amidst growing economic uncertainty.

Gold surged to record levels, with prices exceeding $2,942 an ounce, on a day marked by tense global markets. Investors are on edge as the U.S. administration, led by President Trump, continues to announce new tariff measures, raising trade tensions worldwide.

In response, retaliatory duties from China have taken effect, although some markets, like Hong Kong's Hang Seng Index, have shown resilience, boosted by optimism in sectors such as artificial intelligence. Meanwhile, the U.S. dollar remains strong against major currencies, and oil prices are seeing a rebound.

Attention now turns to Federal Reserve Chair Jerome Powell, who is slated to address tariffs and inflation issues. His testimony could offer crucial insights into how these policies might shape future economic conditions, with investors closely monitoring potential impacts on treasury yields and broader market stability.