Market Update – February 20, 2025 🔹 Risk Sentiment Weakens: Global markets remain on edge as tariff concerns and geopolitical tensions weigh on investor confidence. Asian stocks declined, European futures signal caution, and U.S. markets eye volatility. 🔹 Gold Surges to New Highs: Gold hit another record peak, gaining 12% YTD after last year's 27% rally. Central bank demand and safe-haven flows fuel the bullish momentum. Citi and Goldman now target $3,000+. 🔹 Yen Strengthens: The yen hit a two-month high at 150.48 per USD, driven by risk-off sentiment and speculation of further BOJ rate hikes. 🔹 Earnings Watch: European automakers Mercedes-Benz & Renault report today, with a focus on how they plan to navigate tariff risks. 📊 Trade Strategy: Gold’s momentum remains strong; watch for breakouts near $3,000. Yen strength may continue if risk aversion persists. STOXX 600 faces pressure but remains resilient YTD. Will gold keep rallying, or is a pullback due?