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Gold prices surged over 1% as weaker U.S. GDP data and President Trump's announcement of new global tariffs fueled investor uncertainty. Despite a Supreme Court ruling against his previous tariffs, analysts predict continued volatility, supporting gold's safe-haven appeal. Economic slowdown and persistent inflation further bolster demand for the precious metal.
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Europe's STOXX 600 reached a record high, boosted by the U.S. Supreme Court's decision to strike down President Trump's tariffs. Investors welcomed the ruling, which eased trade uncertainty, while strong corporate earnings and a rebound in manufacturing also contributed to market gains. Luxury and banking sectors saw significant increases.
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The US dollar saw a dip on Friday. This followed a Supreme Court decision against President Trump's tariffs. US economic growth slowed last quarter. Inflation, however, showed a rise. The dollar index weakened against other currencies. Sterling and the Japanese yen also saw movements. Market expectations for Federal Reserve rate cuts were slightly impacted.
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News and Media
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