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Gold prices rise after sweeping tariffs

ByVictoria

Gold rose after President Donald Trump delivered on threats to hit Canada and Mexico with sweeping tariffs and doubled a charge on China, spurring swift reprisals.

Bullion climbed above $2,915 an ounce as Beijing announced 15% duties on some American farm goods, including cotton. Geopolitics was also in the spotlight after the US paused all military aid to Ukraine.

Spot gold rose 0.8% to $2,914.45 an ounce at 10:45 a.m. in London. The Bloomberg Dollar Spot Index fell 0.2%. Silver and palladium gained, while platinum was little changed.

Source – Bloomberg

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    Bullion edged 0.2% lower to around $2,750 an ounce, roughly just $40 short of its all-time high and still set for a fourth straight weekly gain.

    The president has identified China, the EU, Canada and Mexico as potential targets for import levies, though there is uncertainty over whether he will follow through with the threats. 

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