{"id":62691,"date":"2026-06-03T23:38:29","date_gmt":"2026-06-04T03:38:29","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-hits-record-high-as-tech-and-trade-tensions-weigh-on-global-markets\/62691\/"},"modified":"2026-06-03T23:38:29","modified_gmt":"2026-06-04T03:38:29","slug":"gold-hits-record-high-as-tech-and-trade-tensions-weigh-on-global-markets","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-hits-record-high-as-tech-and-trade-tensions-weigh-on-global-markets\/62691\/","title":{"rendered":"Gold Hits Record High as Tech and Trade Tensions Weigh on Global Markets"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> surged nearly 1% to a record $4,474.53 per ounce<\/strong>, as geopolitical uncertainty and trade tensions drove investors toward safe-haven assets.<\/li>\n<li><strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>)<\/strong> has repeatedly delayed the release of its <strong>Muse Spark AI API<\/strong>, with the Wall Street Journal reporting no fixed date for its availability.<\/li>\n<li><strong>The U.S. Trade Representative (USTR)<\/strong> has proposed <strong>10% tariffs on Malaysia<\/strong> following a forced labor investigation, though Malaysian officials state no duties will be applied until a formal ruling is finalized.<\/li>\n<li><strong>TSMC (<a href=\"\/stock\/TSM\">TSM<\/a>)<\/strong> leadership reaffirmed a focus on <strong>profitability<\/strong> and dismissed competitive threats from <strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong>, despite the latter&#39;s progress in advanced packaging technology.<\/li>\n<li><strong>Analysts slashed price targets<\/strong> for healthcare and software leaders <strong>Medtronic (<a href=\"\/stock\/MDT\">MDT<\/a>)<\/strong> and <strong>Veeva Systems (<a href=\"\/stock\/VEEV\">VEEV<\/a>)<\/strong>, citing peer multiple contraction and cautious forward guidance.<\/li>\n<\/ul>\n<h2>Commodities and Regional Markets<\/h2>\n<p><strong>Spot gold<\/strong> reached a historic high of <strong>$4,474.53 an ounce<\/strong> on Thursday, gaining nearly <strong>1%<\/strong> as market volatility intensified. The rally comes amid a broader retreat in industrial metals, with <strong>Shanghai nickel futures<\/strong> plunging more than <strong>3%<\/strong> in recent trading sessions. <em>Investors appear to be rotating out of industrial commodities and into precious metals as global trade risks mount.<\/em><\/p>\n<p>In Asia, the <strong>Singapore equity benchmark (STI)<\/strong> slipped <strong>1.2%<\/strong> to <strong>5,076.81 points<\/strong>. The decline reflects broader regional jitters following the latest U.S. trade proposals. <em>Market participants are closely monitoring the impact of potential tariffs on export-heavy economies in Southeast Asia.<\/em><\/p>\n<h2>Trade and Geopolitics<\/h2>\n<p>The <strong>Malaysian trade ministry<\/strong> addressed concerns regarding a <strong>USTR<\/strong> investigation into <strong>forced labor allegations<\/strong>. While the U.S. has proposed an additional <strong>10% duty<\/strong> on Malaysian products, the ministry clarified that <strong>tariffs will not be applied<\/strong> until a formal ruling is made. <em>Malaysia intends to maintain ongoing engagement with U.S. officials across all levels to resolve the dispute.<\/em><\/p>\n<p>The USTR&#39;s investigation is part of a broader <strong>Section 301<\/strong> probe that could affect up to <strong>60 economies<\/strong>. Malaysian officials emphasized that the U.S. has not yet reached a <strong>final tariff determination<\/strong>. <em>The uncertainty surrounding these trade barriers has already begun to weigh on regional manufacturing sentiment.<\/em><\/p>\n<h2>Technology and Artificial Intelligence<\/h2>\n<p><strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>)<\/strong> is facing internal hurdles with its <strong>Muse Spark AI API<\/strong>. According to the <em>Wall Street Journal<\/em>, the company has delayed the release multiple times, leaving developers without a clear timeline for access. <em>The delays raise questions about Meta&#39;s ability to quickly monetize its latest frontier AI models in a highly competitive landscape.<\/em><\/p>\n<p>Meanwhile, <strong>TSMC (<a href=\"\/stock\/TSM\">TSM<\/a>)<\/strong> CEO <strong>C.C. Wei<\/strong> told shareholders that while customers are viewed as partners, maintaining <strong>profitability remains essential<\/strong>. The company&#39;s Co-COO also addressed <strong>Intel\u2019s (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong> EMIB packaging technology, calling it one of several &quot;challenging&quot; alternatives. <em>TSMC remains confident in its market leadership, asserting it is &quot;unafraid of competition&quot; from rival foundries.<\/em><\/p>\n<h2>Analyst Actions and Corporate Earnings<\/h2>\n<p>Financial analysts are adopting a more conservative stance on several large-cap stocks. <strong>Needham<\/strong> lowered its target price on <strong>Medtronic (<a href=\"\/stock\/MDT\">MDT<\/a>)<\/strong> to <strong>$101<\/strong>, down from <strong>$120<\/strong>, despite the company beating Q4 earnings estimates. <em>The cut reflects a broader contraction in valuation multiples across the medical device sector.<\/em><\/p>\n<p>Similarly, <strong>Raymond James<\/strong> reduced its price target for <strong>Veeva Systems (<a href=\"\/stock\/VEEV\">VEEV<\/a>)<\/strong> to <strong>$225<\/strong> from <strong>$275<\/strong>. Although Veeva recently reported strong fiscal Q1 results, analysts remain wary of the company&#39;s <strong>long-term growth trajectory<\/strong> and peer valuations. <em>Both companies are navigating a market environment where investors are demanding higher margins and more conservative guidance.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Gold prices surged nearly 1% to a record $4,474.53 per ounce, as geopolitical uncertainty and trade tensions drove 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