- Gold has surged past $2,900, marking its seventh record high this year, driven by market uncertainty following Trump’s new tariff threats.
- Despite concerns that tariffs could fuel inflation, increasing pressure on gold, safe-haven demand continues to push prices higher.
Gold has surged past $2,900 for the first time, marking its seventh record high this year, following Trump’s announcement of fresh tariffs.
On Sunday, Trump unveiled plans to impose an additional 25% tariff on all steel and aluminum imports. While such tariffs could fuel inflation—typically a headwind for gold—the uncertainty surrounding U.S. trade policy is driving safe-haven demand, pushing the metal to new highs.
Traders are now awaiting key U.S. inflation data, with Consumer Price Index (CPI) and Producer Price Index (PPI) reports due later this week.
Federal Reserve Chair Jerome Powell is also set to testify before Congress on Tuesday and Wednesday. .
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