Gold soars to six-year high, stocks slide after Powell speech
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NEW YORK (Reuters) - Gold soared to an almost six-year high on Tuesday on escalating U.S.-Iran tensions, while equity markets slid on disappointing economic data and uncertainty that the Federal Reserve will cut interest rates in July as has been expected.Fed Chairman Jerome Powell said in a speech the U.S. central bank is insulated from short-term political pressures as policymakers wrestle with whether to cut rates amid slowing growth as President Donald Trump has demanded.Equity markets have..