Gold Soars, Stocks React to Tariff Uncertainty
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Gold reached a record high of $3,194.20 per ounce Thursday, boosting miner stocks like Newmont (NEM) and Barrick Gold (GOLD). Investors sought safe haven assets amid tariff uncertainty and broader market declines. However, airline stocks plummeted due to concerns about long-term demand destruction from tariffs. Apple initially soared after a tariff pause, but then dropped significantly. US Steel fell after Trump's comments against foreign ownership. Intel and Constellation Brands also experienced volatility related to tariffs. Despite Wednesday's gains, major indexes remain below pre-tariff levels.
Gold reached a record high of $3,194.20 per ounce Thursday, boosting miner stocks like Newmont (NEM) and Barrick Gold (GOLD). Investors sought safe haven assets amid tariff uncertainty and broader market declines. However, airline stocks plummeted due to concerns about long-term demand destruction from tariffs. Apple initially soared after a tariff pause, but then dropped significantly. US Steel fell after Trump's comments against foreign ownership. Intel and Constellation Brands also experienced volatility related to tariffs. Despite Wednesday's gains, major indexes remain below pre-tariff levels.
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