Gold hits record high on Trump tariffs – ING
Source Fxstreet
Gold rose to a new all-time high after US President Donald Trump imposed tariffs on Canada, Mexico and China, driving investors to safe havens, ING’s commodity analysts Warren Patterson and Ewa Manthey notes.
Gold is at a new record high
“However, the strength in the USD did provide some strong headwinds to Gold prices through the day yesterday. Despite the US coming to a deal with Canada and Mexico, which will see tariffs delayed by at least a month, the uncertainty over trade and tariffs continues to buoy Gold prices. ”
“Total known Gold ETF holdings have increased by more than 590k oz this year to 83.4m oz amid a move to safe-haven assets.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
TradingKey - Investors looking towards the potential for interest rate cuts by the US Federal Reserve (Fed) are studying a variety of incoming data points. One of the many important ones is the JOLTS
If you held on to Nvidia (NASDAQ: NVDA) stock for the last three years, you are probably laughing all the way to the bank. A $10,000 bet made in early 2022 would be worth almost $5
The Japanese Yen (JPY) drifts lower during the Asian session on Tuesday as US President Donald Trump's decision to delay plans to impose trade tariffs on Canada and Mexico dents demand for traditional safe-haven assets.
Ripple's XRP is up 30% in the early hours of Tuesday as bulls are looking to stage a recovery from the recent crypto market crash.
Microsoft (NASDAQ: MSFT) shares fell after revenue from its Azure cloud computing platform came in at the low end of its prior guidance, although the unit continues to be company's
Related Instrument
