Gold Steadies as Trump's Tariff Demands Offset Stronger Dollar
The precious metal ended Monday little changed after earlier falling as much as 1.2%, and on Tuesday remained flat at around $3,335 an ounce. The president said Japan and South Korea would face 25% levies on goods, with other rates issued for different trading partners, triggering a selloff in currencies of targeted nations and boosting the dollar. A stronger greenback typically makes gold more expensive for most buyers.
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Beer, wine and spirit sales are down as consumers recognize growing health concerns of consuming ... More alcohol. (Photo by) Alcohol has been a part of society for thousands of years, but even the oldest industries are not immune to disruption. Demand for beer, wine and spirits has ebbed and flowed with changing tastes, economic cycles and cultural. Today, the alcohol industry is going through another soft patch, and the decline in the stock prices of major alcohol producers indicates the current slump in sales may be more than temporary. Diversified conglomerates such as Diageo and Constellation Brands have seen their share prices drop meaningfully over the last several years. Diageo, maker of Guinness beer, Johnny Walker whisky, Don Julio tequila and Smirnoff vodka, has seen its stock price fall nearly 50% from its high at the end of 2021. The stock price of Constellation Brands, owner of Corona beer and Mondavi wines, has collapsed 33.5% over the last year. 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A December 2024 survey conducted by Bloomberg Intelligence found that approximately 74% of young adults aged 18-24 report using cannabis at least once a week as a substitute for alcohol. Many consumers view cannabis as a safer, healthier, and more controlled experience than alcohol, without the consequences of a hangover. The threat to the alcohol industry is even more acute given the rise in popularity of THC-infused drinks. Fortune Business Insights projects the THC beverage market will grow from USD 3 billion in 2024 to USD 117 billion by 2032. THC-infused drinks provide a opportunity for cannabis companies to capture share of the beverage market. Brown-Forman warned that the business is seeing pressure from cannabis, weight-loss drugs and lower demand from Generation Z. "We've been saying that for 1.5 years now. And I know on the sell-side that the world seems to be a little bit split on the extent of the pressure that it's putting on our category. 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