Gold Shines Amidst Global Trade Tensions

Global stock markets continued to suffer losses as new tariffs from U.S. President Trump fueled fears of a trade war. Gold reached record highs as a safe-haven asset, while currency markets were volatile. The dollar struggles amid trade tensions that also impacted oil prices and financial markets.

Asian and European stock markets suffered further declines on Friday as looming trade tensions escalated with U.S. President Donald Trump's latest tariff moves. Safe-haven gold surged to record highs as investors sought stability amidst heightened uncertainty.

U.S. tariffs on auto imports, set to begin next week, drew widespread criticism and led to significant losses in auto stocks across Japan and South Korea. European markets saw similar downtrends, with the STOXX 600 index marking continued losses in the car sector.

As global trade tensions intensified, the financial markets felt the squeeze. U.S. dollar experienced volatility, driven by speculation over inflation data and monetary policy, while oil prices saw moderate declines amidst concerns about economic impact. Meanwhile, gold's robust performance highlighted its appeal in uncertain times.

(With inputs from agencies.)