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Gold rises as concerns grow over tariffs

ByVictoria

Gold prices climbed on Thursday due to escalating concerns about U.S. President Donald Trump’s impending tariff plans, which could further strain global trade relations.

Spot gold added 0.3% to $2,913.40 per ounce as of 11:58 a.m. ET (1658 GMT), moving back towards its record peak of $2,942.70 hit on Tuesday. U.S. gold futures firmed 0.4% to $2,941.40.

“The major factor is political uncertainty and the economic consequences … the PPI was pretty much neutral and it didn’t really have much of an effect on gold, investors around the world are worried about what the Trump policies will do to the overall economy,” said Jeffrey Christian, managing partner of CPM Group.

Spot silver fell 0.3% to $32.13 per ounce. Platinum was down 0.2% to $990.15 and palladium was up 1.6% to $989.50.

Source – Reuters

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The US is moving towards sound money movement

“Everything else that could function as money has been saddled with taxes and disincentives,” Jp Cortez explained, emphasizing how the current monetary system traps people in the Federal Reserve’s fiat currency.

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Gold steady, tariff announcement

ByVictoria
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Spot gold was at $3,026.85 an ounce at 1131 GMT. U.S. gold futures edged 0.4% higher to $3,032.40.

“A modestly weaker dollar is probably giving gold a little bit of a tailwind at present,” said Ross Norman, an independent analyst.

“A worse-than-feared tariff announcement on April 2 could give bullion bulls a shot in the arm towards striving for the $3,100 mark,” said Han Tan, Exinity Group’s chief market analyst.

“Should risk-on sentiment make a comeback, assuming the U.S. tariff threats prove to be more bark than bite, that could see fleeting forays below $3,000,”

Spot silver firmed 0.4% to $33.16 an ounce, platinum steadied at $975.55, and palladium was flat at $957.95

Source – Reuters