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Gold price hit record $2903.21/oz after Trump's tariff announcement. Economist Ed Yardeni predicts $3000/oz soon, $4000/oz by 2026.
Trump announces plans to impose significant tariffs on pharmaceutical products, which were previously exempt, as new US tariffs take effect.
US core inflation rose to 2.9% in July, highest since February. Fed still expected to cut rates in September despite inflation above 2% target.
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