Gold Hits Record High on Weak Dollar as Trump Tariff Risks Loom
(Bloomberg) – Gold has hit new time, as the dollar is driven lower, and traders are looking for security in the issue of President Donald Trump tariff events.
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Bullion increased by 1.4% to 2,798.59 ounces, exceeding the high level of all its previous times in October. Makes the weaker dollar more attractive to other currencies that keep other currencies as it costs US currency.
Greenback softness has reached the widespread interest rate cut by the European Central Bank and the latest data, which have shown that the gross domestic inflation rate in the United States increased by 3.3% a year in the United States. month.
The precious metal trades in the US election, which the decisive victory of Trump was selling in advance, as investors gathered in connection with risk activity. But in recent weeks, it has been honored to the ground, as the president’s double threats set out the demand for shelters.
“You have uncertainty about what will happen to Trump, with its policy and tariffs and such things can affect the growth of the United States,” said Phil, in blue futures. “When you go up inflation and grow a drop, you will get a ferry, then gold is one of the best products in that environment.”
“I think people are positioned. There are new strength, a new desire to get involved in this product, “said Street.
Trump’s policy is widely viewed by economists as a gathering, and it is possible to damage economic growth. Federal Reserve Chair Jerome Powell said on Wednesday that the Central Bank of America was “Waiting and See” in terms of possible impact of new administration policy.
Powell and his peers held interest rates in the Federal Open Market Committee on their first session of a stable year, adding that they would not rush to the low level when they are waiting for further progress on inflation.
While Trump’s plans are not yet clear, they limit the Saturday for 25% of Mexico and Canada, and said that the previously proposed “is much larger” according to the Scott Bessent of Treasury Secretary.
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