There's gold in MNAR portfolios. I'm David Brancaccio in Los Angeles. I'm looking at an ounce of gold this morning costing above $3,000, $3,007, up 2 tenths of a percent now. People are buying amid uncertainty about the direction of markets and talk from the president of possible recession, Marketplaces Nancy

Marshall-Genzor explains.

When investors are nervous or uncertain, they turn to gold. They see it as a safe haven.

There is a lot of uncertainty right now, fueled by fears of a global trade war. New steel and

aluminum tariffs are now in effect, and President Trump is threatening

a 200% tariff on alcohol from the European Union. The on-again, off-again tariff fight

makes it hard for investors to know where to put their money. Gold is also appealing to central

banks, especially after some of Russia's foreign reserves in U.S. dollars were frozen after it

invaded Ukraine. Russia's lukewarm reaction to the ceasefire with Ukraine proposed by the U.S.

also ratcheted up fears of increased geopolitical instability. And the value of the dollar is down.

Gold is priced in dollars, so it's cheaper when the dollar falls.

Stir in fears of a recession and falling stock prices, and you have a recipe for a gold rally.

I'm Nancy Marshall Genser for Marketplace.

Sharp stock market downturns can be salubrious.

Good for your economic health. That's part of the

message from Treasury Secretary Scott Bessent over the weekend. The widely owned S&P 500 index had fallen 10%

from a recent peak by last week. The euphemism in the trade here is correction. Marketplace's

Nova Safo has more. Many Americans are worried that the Trump administration's tariff policies will trigger

higher prices and a recession.

There's no reason that it has to.

Still, Treasury Secretary Scott Besant on NBC's Meet the Press over the weekend would not

rule a recession out.

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