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Investors to be more defensive
Tariffs suggested on both sides
25% levy on all countries trading with Iran
Next Fed meeting on 28 January
Rate will impact any country ‘doing business’
Following President Trump's tour
Yield curve to steepen
Markets 'no longer just adjusting under duress'
US shutdown delaying data
Price over £3,000/oz
19 January 2026
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3 min read
