<ul><li>Gold prices hit a fresh record as trade war tensions and Powell's comments fuel safe-haven demand. Bullion rose 0.4% to $3,357.78 per ounce.</li><li>Powell commented that the Federal Reserve is not planning to intervene in the market to calm the recent volatility.</li><li>The US and Japan have initiated trade negotiations aiming to avoid higher tariffs, with hopes to reach a deal within the 90-day grace period.</li><li>Gold has climbed nearly 28% this year due to escalating trade war concerns, outpacing the 27% gain seen in 2024, and increasing anxiety over a global recession.</li></ul>

Gold hits fresh record as trade war, Powell fire up haven demand

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