Gold Advances to 11-Week High as Trump Hints at China Tariffs
Gold climbed to its highest intraday level since late October, with traders monitoring the outlook for the global economy as President Donald Trump continued to sketch out his views on trade and immigration policies.
Bullion traded around $2,762 an ounce after surging 1.4% in the previous session, as Trump’s tariff threats bolstered demand for haven assets.
The president later said that he is considering placing a 10% levy on Chinese goods in retaliation for the flow of fentanyl from the country, and reiterated he intends to hit Canada and Mexico with import duties as high as 25% in coming weeks.
Source: Bloomberg