100 Days In: Trump’s ‘Strategic Uncertainty’ on Tariffs Leaves Markets Guessing

Concise Summary: Gold prices have surged approximately 11% in 2025 and 42% over the past calendar year, significantly outperforming the S&P 500’s gains. However, some financial experts are urging caution, citing Warren Buffett’s famous investment rule to “be fearful when others are greedy.” Advisors recommend limiting gold allocation to just 1-3% of a diversified portfolio, warning against chasing returns at potentially peak prices. The current gold rush is attributed to investors seeking safe havens during uncertain times and concerns about stalled inflation progress.

The United States and Ukraine have agreed on terms of a draft minerals deal that’s central to Kyiv’s efforts to secure Washington’s support as President Trump pushes for a rapid end to the conflict with Russia. While the agreement emphasizes Ukraine’s sovereignty, it notably lacks specific U.S. security guarantees or weapons commitments. Trump has mentioned the potential need for peacekeeping troops in Ukraine if a peace agreement is reached, though Moscow has rejected any NATO forces. The deal comes amid tense exchanges between Trump and President Zelenskiy, with Trump describing it as repayment for billions in U.S. aid.

U.S. consumer confidence took a significant hit in February, recording its steepest monthly decline since August 2021. The sharp drop signals a potential shift in Americans’ economic outlook after months of relative stability. This unexpected downturn in consumer sentiment may influence Federal Reserve policy decisions and could have implications for consumer spending, which drives approximately 70% of U.S. economic activity.