Gold just a sigh away from fresh all-time high on Thursday
Gold price (XAU/USD) sprints higher on Thursday, gaining around 0.70% gains, trading at $3,040 at the time of writing. The pop in the precious metal was infused by United States President Donald Trump, who issued fresh new tariffs. Trump signed a proclamation for a 25% tariff on auto imports on Wednesday.
In addition, President Trump suggested that further and mounting tariffs can be imposed on the European Union and Canada if both territories work together to “do the US economy harm”. Trump threatened with more levies on lumber, semiconductors and pharmaceutical drugs. All these new unleashed tariffs, levies and threats make the market’s assessment on what will actually come on April 2nd and 3rd, with the already announced reciprocal tariffs very unclear and full of contradictions.
Source: FXStreet