{"id":60385,"date":"2026-03-31T13:38:30","date_gmt":"2026-03-31T17:38:30","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/gold-hits-record-4638-as-fed-warns-of-3-inflation-trap-ubs-ceo-extends-tenure-to-2027\/60385\/"},"modified":"2026-03-31T13:38:30","modified_gmt":"2026-03-31T17:38:30","slug":"gold-hits-record-4638-as-fed-warns-of-3-inflation-trap-ubs-ceo-extends-tenure-to-2027","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-hits-record-4638-as-fed-warns-of-3-inflation-trap-ubs-ceo-extends-tenure-to-2027\/60385\/","title":{"rendered":"Gold Hits Record $4,638 as Fed Warns of 3% Inflation Trap; UBS CEO Extends Tenure to 2027"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Spot <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> surged nearly 3% to a record $4,638.71 per ounce<\/strong> as geopolitical instability and persistent inflation drive massive safe-haven demand.<\/li>\n<li><strong>Fed\u2019s Jeffrey Schmid warned of a &quot;real risk&quot; that inflation stalls at 3%<\/strong>, stating that the central bank cannot assume higher oil prices are merely transitory.<\/li>\n<li><strong>UBS (<a href=\"\/stock\/UBS\">UBS<\/a>) CEO Sergio Ermotti will remain in his post until at least April 2027<\/strong>, prioritizing the bank&#39;s integration needs and Switzerland&#39;s safe-haven status.<\/li>\n<li><strong>Japan and France are set to sign a strategic rare-earths pact<\/strong> to secure critical mineral supply chains and reduce global reliance on China.<\/li>\n<li><strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> claimed success in preventing Iran from obtaining nuclear weapons<\/strong>, following reports of intense military strikes against the regime&#39;s infrastructure.<\/li>\n<\/ul>\n<p>Spot gold prices reached an unprecedented high of <strong>$4,638.71<\/strong> per ounce on Tuesday, extending a rally that has seen the metal rise nearly <strong>3%<\/strong> in a single session. <em>Investors are aggressively rotating into bullion<\/em> as a hedge against a &quot;perfect storm&quot; of Middle Eastern conflict and a stalling return to the Federal Reserve&#39;s inflation targets.<\/p>\n<p>Kansas City Fed President <strong>Jeffrey Schmid<\/strong> fueled market concerns by identifying inflation as the &quot;more salient risk&quot; facing the U.S. economy. <strong>Schmid<\/strong> warned that there is a significant danger of price growth becoming entrenched near <strong>3%<\/strong>, and he emphasized that the <strong>Federal Reserve<\/strong> must follow through with policy actions to validate stable long-term expectations.<\/p>\n<p>Regarding energy costs, <strong>Schmid<\/strong> noted that sustained higher oil prices will likely exert a &quot;modest drag&quot; on economic growth. However, he argued that <em>economic tailwinds<\/em>\u2014including <strong>solid demand momentum<\/strong>, <strong>productivity gains<\/strong>, and <strong>low unemployment<\/strong>\u2014mean the U.S. economy remains resilient enough to withstand tighter conditions.<\/p>\n<p>In the financial sector, UBS (<a href=\"\/stock\/UBS\">UBS<\/a>) CEO <strong>Sergio Ermotti<\/strong> confirmed he will stay at the helm until at least <strong>April 2027<\/strong> before reassessing his position. <strong>Ermotti<\/strong> stated that the eventual successor will be chosen based on the bank&#39;s &quot;current needs&quot; as it navigates the final stages of the <strong>Credit Suisse<\/strong> integration, while also stressing that <strong>Switzerland<\/strong> must protect its reputation as a global financial refuge.<\/p>\n<p>On the trade front, <strong>Japan\u2019s Prime Minister Sanae Takaichi<\/strong> and <strong>France\u2019s President Emmanuel Macron<\/strong> are prepared to ink a rare-earths pact to bolster supply chain security. This move follows a similar agreement between <strong>Japan<\/strong> and the U.S. and signals a <em>coordinated effort among G7 nations<\/em> to diversify the sourcing of minerals critical for high-tech and defense industries.<\/p>\n<p>Finally, <strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> told the <em>New York Post<\/em> that his mission to prevent <strong>Iran<\/strong> from possessing nuclear weapons has been a success. This claim comes amid reports of &quot;total obliteration&quot; of Iranian offensive capabilities following recent military operations, which <strong>Trump<\/strong> asserted have fundamentally changed the regional order.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Spot gold surged nearly 3% to a record $4,638.71 per ounce as geopolitical instability and persistent inflation drive [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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