Overview

• He said gold prices now signal global risk in a way crude once did, noting oil has stayed range bound despite geopolitical tensions.
• The Reserve Bank of India kept the policy rate at 5.5% with a neutral stance and said the outlook remains clouded despite resilient growth.
• Spot gold traded near $3,867 an ounce after a record $3,896.9, putting the metal on track for a seventh straight weekly gain.
• He warned that fiscal stress is widespread and that the current trade policy environment could damage growth in some economies.
• He cautioned that equity markets look complacent and said a correction might be in the offing, especially after tech-led rallies.