Gold prices surged to a new all-time high on Tuesday, driven by investor concerns over ballooning deficits, political uncertainty, and potential future inflation. The precious metal’s resilience amidst a stronger dollar and rising Treasury yields highlights its growing appeal as a safe haven asset in a world grappling with economic headwinds.
California Governor Gavin Newsom has signed a budget aimed at closing a $46.8 billion deficit, drawing criticism from Republican lawmakers who claim they were excluded from the negotiation process. The budget, which includes spending cuts and tax increases on businesses, has been met with praise from Newsom who describes it as responsible and beneficial for Californians. However, Republican lawmakers express concerns about the sustainability of the budget and accuse Democrats of prioritizing social projects over essential services.
