Gold climbs during the early hours of the Asian trading session as U.S. President Trump’s newly announced tariffs are expected to boost the precious metal’s appeal as a safe-haven asset. Additionally, according to a research study by Daniel Ghali of TD Securities, macro funds are anticipated to follow gold’s most recent surge after event risk associated with Trump’s tariffs. Furthermore, the senior commodity expert notes that Chinese gold ETFs have purchased almost 10 tonnes of gold in the past week, suggesting that China is vying for the precious metal. After hitting a new record high of $3,167.24/oz on the ICE platform, spot gold increased 0.9% to $3,166.90/oz.
Gold Gains Momentum as Trump’s Tariffs Heighten Demand for Safe-Haven Assets
- Date: April 3, 2025
- Time: 7:30 AM
