Gold Gains Following Trump’s Tariff Shakeup

Gold prices rose as tariff threats from President Donald Trump drove investors toward the safe-haven asset.

Gold has surged more than 25% this year.

Bullion traded near $3,370 an ounce, following a 0.6% increase last week, Rian Howlett reported for Yahoo Finance. Trump recently issued new trade ultimatums to Mexican President Claudia Sheinbaum and European Commission President Ursula von der Leyen.

The letters are the latest in a series of messages sent in recent days to leaders in Canada, Brazil, and other countries, outlining new tariff rates ahead of the president’s August 1 deadline.

Rising trade tensions have boosted gold’s appeal as a haven, although some investors remain skeptical about the likelihood of broad-based trade disruption. Trump has previously backed down from aggressive tariff threats under pressure.

Gold has surged more than 25% this year, setting a record above $3,500 an ounce in April.

The rally has been fueled by Trump’s trade policies, persistent geopolitical tensions, and increased central bank purchases. Investors continue to seek safety in gold amid uncertainty about the long-term impact of trade disruptions on the global economy.