• Gold rebounded after its biggest one-day drop in two months, trading near $2,900 an ounce following a 1.6% decline on Friday. Despite overbought signals from technical indicators, concerns over President Trump’s latest tariff threats supported the metal’s recovery. Trump hinted at new auto tariffs by April 2, fueling uncertainty over global trade. Analysts suggest his aggressive stance may be more of a negotiation tactic, but lingering economic and geopolitical risks continue to boost gold’s appeal as a safe-haven asset. Traders are also assessing weak U.S. retail sales data, which increased bets that the Federal Reserve may cut interest rates by September, a move that typically benefits gold.

• Despite Friday’s drop, gold extended its winning streak to seven consecutive weeks, the longest since 2020, supported by central bank purchases—notably from China—and increased ETF holdings. Hedge funds trimmed bullish gold bets to a four-week low, according to CFTC data. On Tuesday, gold hit an all-time high of $2,942.68 an ounce, while on Monday, spot gold rose 0.7% to $2,902.13 in London trading. Other precious metals also advanced, with palladium up 1.9%, while silver and platinum gained as well.