Silver Rises Over 120% YTD 
Global stock markets tumbled Friday as President Trump’s announcement of 25% auto tariffs fueled fears of an escalating trade war, while gold reached new record highs as investors sought safe-haven assets.
Asian markets were hit particularly hard, with Japan’s Nikkei falling nearly 2% as Toyota and Honda shares dropped sharply. South Korea’s Kospi similarly declined 2%, while Europe’s STOXX 600 edged down with its automotive sector logging its sixth straight week of losses.
Automakers including Volvo, Audi, Mercedes-Benz and Hyundai have begun relocating production in response to the tariffs. Markets remain anxious ahead of April 2, when reciprocal measures against the U.S. are expected to be announced.
Analysts at Macquarie described the developing situation as “growth-restraining and inflation-producing,” driving investors toward gold as protection against both economic uncertainty and potential inflationary pressures.
