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As any investor will tell you, the past month has been absolutely brutal when it comes to the markets. In the past 30 days alone, the Nasdaq is down 9.5%, the Dow Jones Industrial Average is down 7.8%, and the S&P 500 is down 7.8%. But in the same period, one asset has surged: gold. As of the time of this writing, the price of an ounce of gold has surged over the past 30 days by a remarkable 14.4%. And gold isnt just surgingits hitting all-time highs. This morning, gold peaked above $3,506 per ouncea record for the precious metal. As of the time of this writing, the commodity has pulled back slightly to around $3,453 an ounce, according to Yahoo Finance data. However, even that price is still striking. Thats nearly $800 an ounce higher than gold was at the beginning of 2025. Since then, the metal has surged 32%. Gold’s biggest jump has happened in the past five days alone. During that period, it has surged 7.78% But why? Gold is a historic safe haven during chaotic economic times When the economy is in turmoil or investors fear an economic downturn is coming, they tend to park their money in what are known as economic safe havensassets that have historically been less likely to decrease in value during greater economic downturns. As Investopedia notes, historic safe havens include cash; some currencies like the Swiss franc, the U.S. dollar and Japanese yen; U.S. Treasury bills; and precious metals, most notably, gold. However, investors of late seem to feel that some of these historic safe havensthe U.S. dollar in particulararent as reliable now as in past times. Instead, they seem to be throwing their money into gold, hence the recent rapid surge in price. As for why investors are turning to safe havensand sending gold surging in recent weeksit mainly comes down to two President Trump-related reasons, notes the Wall Street Journal. Trumps chaotic tariffs The first reason is no surprise. Ever since Trump announced his new chaotic Liberation Day tariff policies on April 2, investor confidence has plummeted as the tariffsand their implementationhave spread uncertainty throughout the economy and business world. While many of the tariffs are now paused for 90 days, the ones Trump levied against China are still active, as are Chinas retaliatory tariffs against the U.S. These tariffs mean that Americans are paying more for many common goods, and they are impacting the volume of goods that American businesses export to customers in China. And given the Trump administration’s chaotic implementation of the tariffs, its mixed messaging surrounding them, and the lingering uncertainty of whether deals can actually be reached with other nations before the 90-day pause expires, people are beginning to lose faith in the U.S. economy, and recession fears are rising. If a full-blown recession does hit, it’s likely stocks and other assets may continue to fall, which is why many investors are now seeking safe havens like gold. Trumps attacks on Fed Chairman Jerome Powell But maybe even worse than Trumps chaotic tariffs is his recent and increasing attacks on Federal Reserve Chairman Jerome Powell. Trump wants Powell, who oversees Americas independent central bank, the Federal Reserve, to lower interest rates. The reason Trump wants power to do this is that Trumps tariffs have pummeled the stock markets and consumer confidence. When the Federal Reserve chooses to lower interest rates, the stock markets generally rise and consumer spending increases, as MSNBC points out. That’s because its cheaper to borrow money for things like homes and cars. It can also lower credit-card interest rates, further boosting spending. But Powell has so far refused to acquiesce to Trumps demandsand for good reason. While lower rates can help the economy in the short term, they can have a negative impact in the long term by giving it a temporary artificial boost. As MSNBC notes, if rates are already lowered, and things do get worse with the economy in the future, the Federal Reserve will have one less tool in its arsenal to help fight the economic downturn because it has already lowered rates. But Trump seems to care more about the short term. Thats likely why he has increased his attacks on Powell, whom he has threatened to fire, which most legal experts agree the president cant do anyway. As a matter of fact, the central banks of most countries, including the United States, are set up to be independent of the government precisely so that leaders cant pressure the banks to do something that is beneficial for political reasons instead of being rational for economic ones. Still, Trumps very public beef with Powell is enough to make some investors leery that Trump may indeed be willing to undermine what is seen as a critical pillar of the U.S.s economic credibility. That beef is leading to uncertainty, which is leading to some investors now looking for more stable, safe-haven assets like gold.
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E-Commerce
A commercial airliner was on final approach to San Franciscos international airport in November when the crew spotted a drone outside the cockpit window. By then it was too late to take evasive action, the pilots reported, and the quadcopter passed by their windshield, not 300 feet away. A month earlier, a jetliner was flying at an altitude of 4,000 feet near Miamis international airport when its pilots reported a close encounter with a drone. In August, a drone came within 50 feet of clipping the left wing of a passenger jet as it departed Newark International Airport. The incidents were all classified as near midair collisions any one of which could have had catastrophic consequences, according to aviation safety experts. They were also not isolated encounters. An Associated Press analysis of an aviation safety database reveals that drones last year accounted for nearly two-thirds of reported near midair collisions involving commercial passenger planes taking off and landing at the country’s top 30 busiest airports. That was the highest percentage of such near misses since 2020, when air traffic dropped during the COVID-19 pandemic. The first reports of near misses involving drones were logged in 2014, the AP found. The number of such encounters spiked the following year. Over the last decade, drones accounted for 51% 122 of 240 of reported near misses, according to AP’s analysis. Passenger jets have long been subject to risks around airports whether from bird strikes or congested airspace as was made clear by the January collision between a military helicopter and commercial jet near Washington, D.C., that killed 67 people. The threat has become more dire The threat from drones has become more acute in the last decade as the use of quadcopters and remote-controlled planes has exploded in popularity. The FAA estimates that Americans are operating more than a million drones for recreational and commercial purposes. If you have the money, you can go on the internet and buy a pretty sophisticated drone that can reach altitudes they really have no business being at, said William Waldock, a professor of safety science at Embry-Riddle Aeronautical University. The risk is most acute near airports because that is where the flight paths of drones and airplanes most overlap, experts said. The incidents represent only a portion of such close calls because the database NASAs Aviation Safety Reporting System relies on voluntary submissions from pilots and other aviation workers. A separate FAA program, which includes reports from the public, tallied at least 160 sightings last month of drones flying near airports. The FAA recognizes that urgency, and we all know additional changes need to be made to allow the airports to go out and detect and mitigate where necessary, said Hannah Thach, executive director of the partnership, known as Alliance for System Safety of UAS through Research Excellence. FAA says it is taking steps to improve safety The FAA said it has taken steps to mitigate the risks of drones. It has prohibited nearly all drones from flying near airports without prior authorization, though such rules are difficult to enforce, and recreational users may not be aware of restrictions. The agency requires registrations for drones weighing more than 250 grams (0.55 pounds), and such drones are required to carry a radio transponder that identifies the drones owner and broadcasts its position to help avert collisions. Additional rules govern commercial drone use. The agency has also been testing systems to detect and counter drones near airports. Among the methods being examined: Using radio signals to jam drones or force them to land. Authorities are also weighing whether to deploy high-powered microwaves or laser beams to disable the machines. Experts said the FAA and other authorities could do more. They suggested creating a system similar to speed cameras on roadways that could capture a drones transponder code and send its pilots a ticket in the mail. They also said the FAA should consider regulations that require all manufacturers to program a drones GPS unit to prevent it from flying near airports and other sensitive areas, a method called geofencing. Drone manufacturer ends mandatory “geofencing” DJI, a leading drone maker, used such geofencing restrictions for years. However, it eliminated the feature in January, replacing it with an alert to drone pilots when they approach restricted areas. Adam Welsh, head of global policy at DJI, said managing requests from authorized users to temporarily disable the geofencing became an increasingly time-consuming task. More than one million such requests were processed last year. We had around-the-clock service, but the number of applications coming in were becoming really hard to handle, Welsh said. They all had to be reviewed individually. With no other manufacturers enabling geofencing, and without government rules requiring it, DJI decided to end the practice, he said. The FAA declined to say if it is considering whether to mandate geofencing. Drone users can face consequences Experts said authorities should take more aggressive action to hold drone users accountable for violating restricted airspace to highlight the problem and deter others from breaking the rules, pointing to recent arrests that they hoped might send such a message. In December, for example, Boston police arrested two men who operated a drone that flew dangerously close to Logan International Airport. Police reported that they were able to find the drone flyers, in part, by tracking the aircraft thanks to its FAA-mandated transponder signal. A month later, a small drone collided with a Super Scooper plane that was fighting wildfires raging through Southern California. The drone punched a hole in the plane’s left wing, causing enough damage that officials grounded the aircraft for several days to make repairs. Authorities tracked down the 56-year-old drone operator, who pleaded guilty to a federal charge of recklessly flying his aircraft. The man, who has yet to be sentenced, admitted he launched his DJI quadcopter to observe fire damage over the Pacific Palisades neighborhood, despite the FAA having restricted drone flying i the area, according to court records. The operator lost sight of the drone after it flew about 1.5 miles from where he had launched it. And that’s when it struck the Super Scooper.” Aaron Kessler and Michael Biesecker, Associated Press
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Arborists are turning vacant land on Detroit’s eastside into a small urban forest, not of elms, oaks and red maples indigenous to the city but giant sequoias, the world’s largest trees that can live for thousands of years. The project on four lots will not only replace long-standing blight with majestic trees, but could also improve air quality and help preserve the trees that are native to Californias Sierra Nevada, where they are threatened by ever-hotter wildfires. Detroit is the pilot city for the Giant Sequoia Filter Forest. The nonprofit Archangel Ancient Tree Archive is donating dozens of sequoia saplings that will be planted by staff and volunteers from Arboretum Detroit, another nonprofit, to mark Earth Day on April 22. Co-founder David Milarch says Archangel also plans to plant sequoias in Los Angeles, Oakland, California, and London. What are giant sequoias? The massive conifers can grow to more than 300 feet (90 meters) tall with a more than 30-foot (9-meter) circumference at the base. They can live for more than 3,000 years. Heres a tree that is bigger than your house when its mature, taller than your buildings, and lives longer than you can comprehend, said Andrew Birch Kemp, Arboretum Detroit’s executive director. The sequoias will eventually provide a full canopy that protects everything beneath, he said. It may be sad to call these .5- and 1-acre treescapes forests, Kemp said. We are expanding on this and shading our neighborhood in the only way possible, planting lots of trees. Giant sequoias are resilient against disease and insects, and are usually well-adapted to fire. Thick bark protects their trunks and their canopies tend to be too high for flames to reach. But climate change is making the big trees more vulnerable to wildfires out West, Kemp said. The fires are getting so hot that its even threatening them, he said. Descendants of Stagg and Waterfall Archangel, based in Copemish, Michigan, preserves the genetics of old-growth trees for research and reforestation. The sequoia saplings destined for Detroit are clones of two giants known as Stagg the world’s fifth-largest tree and Waterfall, of the Alder Creek grove, about 150 miles (240 kilometers) north of Los Angeles. In 2010, Archangel began gathering cones and climbers scaled high into the trees to gather new-growth clippings from which they were able to develop and grow saplings. A decade later, a wildfire burned through the grove. Waterfall was destroyed but Stagg survived. They will both live on in the Motor City. Why Detroit? Sequoias need space, and metropolitan Detroit has plenty of it. In the 1950s, 1.8 million people called Detroit home, but the city’s population has since shrunk to about one-third of that number. Tens of thousands of homes were left empty and neglected. While the city has demolished at least 24,000 vacant structures since it emerged from bankruptcy in 2014, thousands of empty lots remain. Kemp estimates that only about 10-15% of the original houses remain in the neighborhood where the sequoias will grow. Theres not another urban area I know of that has the kind of potential that we do to reforest,” he said. We could all live in shady, fresh air beauty. It’s like no reason we cant be the greenest city in the world. Within the last decade, 11 sequoias were planted on vacant lots owned by Arboretum Detroit and nine others were planted on private properties around the neighborhood. Each now reaches 12 to 15 feet (3.6 to 4.5 meters) tall. Arboretum Detroit has another 200 in its nursery. Kemp believes the trees will thrive in Detroit. Theyre safer here … we dont have wildfires like (California). The soil stays pretty moist, even in the summer, he said. They like to have that winter irrigation, so when the snow melts they can get a good drink. How will the sequoias impact Detroit? Caring for the sequoias will fall to future generations, so Milarch has instigated what he calls tree school to teach Detroits youth how and why to look after the new trees. We empower our kids to teach them how to do this and give them the materials and the way to do this themselves, Milarch said. They take ownership. They grow them in the classrooms and plant them around the schools. They know were in environmental trouble. Some of them may never have even walked in a forest, Kemp said. How can we expect children who have never seen a forest to care about deforestation on the other side of the world?” Kemp said. “It is our responsibility to offer them their birthright. City residents are exposed to extreme air pollution and have high rates of asthma. The Detroit sequoias will grow near a heavily industrial area, a former incinerator and two interstates, he said. Kemps nonprofit has already planted about 650 trees comprising around 80 species in some 40 lots in the area. But he believes the sequoias will have the greatest impact. Because these trees grow so fast, so large and theyre evergreen theyll do amazing work filtering the air here, Kemp said. We live in pretty much a pollution hot spot. Were trying to combat that. Were trying to breathe clean air. Were trying to create shade. Were trying to soak up the stormwater, and I think sequoias among all the trees we plant may be the strongest, best candidates for that. Corey Williams, Associated Press
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