6 days ago
- Business
- Wall Street Journal
Gold Advances Amid Rising Trade Tensions
2340 GMT — Gold advances in the early Asian session amid rising trade tensions that typically enhance the safe-haven appeal of the precious metal. The U.S. will impose a 30% tariff on goods from the EU and Mexico effective Aug. 1, President Trump said in letters to them, posted on Truth Social on Saturday. The tariffs 'represent escalations that have undermined hopes for comprehensive agreements to end the broader global trade conflict,' Samer Hasn says in an email. 'These developments reinforce the likelihood of actual tariffs being imposed by August 1, reviving concerns over their potential implications for the U.S. economy,' the senior market analyst adds. Spot gold is 0.4% higher at $3,367.16/oz. (
