Gold prices climbed to their highest level in nearly three months on Wednesday, driven by uncertainty surrounding President Donald Trump's trade policies. Investors are seeking refuge in gold as the lack of clarity around potential tariffs on trading partners like Canada, Mexico, China, and the European Union fuels market volatility.
Gold soared to its highest intraday level in nearly three months on Wednesday, as the lack of clarity around US President Donald Trump’s policy plans sparked fears of market volatility , boosting the appeal of safe haven s.
Earlier in the week, the US President said his administration could impose a 25% import duty on Canada and Mexico as soon as Feb. 1. The threat of tariffs has since been extended to China and the European Union. “There are uncertainties with proposed tariffs and other things, and gold typically does well when there’s a large or even a moderate amount of uncertainty in the market, it’s a natural place where people gravitate to,” Ryan McIntyre, senior portfolio manager at Sprott Asset Management, noted.
Gold Prices Trade War Tariffs Safe Haven Market Volatility
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