Investors watched anxiously on Friday as stock prices slipped and gold plunged, signaling nervousness about President Donald Trump’s new Federal Reserve nominee. The looming question of how interest rates might change has triggered volatility across financial markets.

UBS projects a significant rise in gold prices to $3,500 per ounce by the end of 2025, driven by increased demand for strategic and inflation-hedging assets. The bank advises investors to capitalize on market dips, viewing current geopolitical fears as overblown.

As gold prices reach unprecedented heights, Americans are turning heirlooms into cash, melting down jewelry—including pieces from the 1800s—in a modern gold rush. This trend reflects a shift where financial gain outweighs sentimental value for many.