Car giants suffer £6bn hit as fears rise over steel tariffs

Group 1: Gold Market Insights - Gold prices have surged past $4,000 per ounce, driven by investor demand for safe-haven assets amid economic uncertainties, including concerns over the US government shutdown and political turmoil in France [14][70][53] - Analysts predict that gold could reach $5,000 per ounce by the end of the year, reflecting a potential annual return of over 50% [40][7] - The demand for gold is being supported by significant inflows into gold exchange-traded funds (ETFs), particularly in India, which saw a record inflow of $902 million in September [48][49] Group 2: Silver Market Developments - Silver has also reached a record high of $49.55 per ounce, tracking gold's rally, with a notable increase of 4% in a single day [7][54] - Analysts suggest that silver may present a strong investment opportunity as it gains relative strength over gold [8] Group 3: European Automotive Industry - European car manufacturers are advocating for the EU to relax its 2035 ban on combustion-engine sales, citing concerns over the financial impact of current emission-reduction targets [3][4] - The European Commission has proposed a 50% duty on steel above a quota, which could increase costs for carmakers, leading to a significant drop in their stock values [6][5] - BMW's shares fell by 8.5% due to a profit warning, highlighting the ongoing challenges faced by the automotive sector amid trade tensions and regulatory pressures [4] Group 4: Economic Outlook and Market Reactions - The International Monetary Fund (IMF) has indicated that the US economy is showing signs of slowing, emphasizing the need for fiscal responsibility [19][25] - Economists predict that the eurozone will experience slow growth over the next two years, with inflation expected to undershoot the 2% target [21] - European stock markets have shown resilience, with the pan-European Stoxx 600 rising by 0.9%, despite concerns in the automotive sector [17][56]