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Ira Epstein from Linn & Associates outlines the impact of trade tariffs and market fluctuations. He stresses taking some profits from gold due to current market conditions, as the metal's prices could be affected by "buy the rumour, sell the fact" reactions. Epstein observes that the 10% tariffs are likely to persist throughout the current presidency, impacting global trade. He notes that while countries such as Australia have adapted, others may react differently with their own tariffs, leading to ongoing volatility. Ira also highlights the anticipated adjustments in interest rates and its implications on the economy. He sees the Fed potentially facing challenges with inflation, as markets price in interest rate cuts. The continued ambiguity around tariffs could lead to market instability.