Gold Prices Surge Amid Trade Uncertainty from Trump Announcement
AI-Generated Summary
Gold prices are climbing towards record highs after President Trump's announcement of new steel and aluminum tariffs, increasing uncertainty in global markets.
Gold prices have increased, moving towards a record high, following President Donald Trump's announcement on Sunday regarding new duties on steel and aluminum imports. The announcement has heightened uncertainty in global financial markets.
Bullion was trading close to $2,869 an ounce, reflecting a 2.2% increase from the previous week. The president's recent trade threats have driven demand for safe-haven assets like gold. He stated that a 25% tariff will be imposed on aluminum and steel from all countries, although he did not specify when these tariffs will take effect.
