TRUMP’S Tarif Actions Spark Gold Rush Over $3,100
— Gold prices have soared past $3,100 per ounce for the first time. Concerns over President Donald Trump’s tariffs and geopolitical tensions are pushing investors to seek safety in gold. This surge shows market anxiety about potential economic impacts from U.S. policy changes.
President Trump plans to announce a new round of tariffs on Wednesday, dubbing it “liberation day.” These actions are expected to significantly influence currency markets. ING analysts suggest that the USD might benefit from these tariff announcements as global trade dynamics shift.
Meanwhile, futures markets are dipping as investors brace for upcoming tariff implementations and their broader economic effects. The uncertainty surrounding these policies is causing volatility across various financial sectors.
In related news, China’s major state-owned banks are raising substantial funds to support their economy amid global financial shifts. Beijing’s support highlights the interconnectedness of international markets during this period of heightened tension and change.