Gold Rises as Market Turmoil Sends Investors to the Precious Metal's Safe Haven
Silver and New York gold experienced a major shock as Trump's tariff exemptions concluded 80 billion dollars "Precious Metals migration."
In the past few months, due to concerns among traders about how Precious Metals would be affected by tariffs, New York futures Gold experienced a significant premium over benchmark prices, stimulating large-scale arbitrage trading. As Gold, Silver, Platinum, and Palladium were exempt from tariffs, the arbitrage trading reversed, leading to a rapid and significant narrowing of the price difference between New York futures Gold and spot Gold, while the Silver market experienced a sharp decline in the "physical delivery price difference."
Express News | Spot Gold Hits Record High at $3,160.52/Oz
The USA has excluded Steel, Aluminum, and Gold from reciprocal tariffs to alleviate cost pressure on domestic enterprises.
The White House stated that Steel and Aluminum imported products will not be affected by reciprocal tariffs, which will provide some buffer for domestic buyers in the USA.
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Express News | Spot Gold Hits $3,100 per Ounce for the First Time
April 2nd, "Panic Day" is approaching! Gold breaks through 3090 USD to set a new historical high.
As the Global trade tensions rise, the Gold market opened this week by hitting a new historical high.
Gold Futures Climb to New High on Tariff Worries and Uptick in Key Inflation Measure
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Update: Gold Edges Off a Record High as Safe-Haven Demand Remains Strong
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