Why are gold prices soaring amid US President Trump’s tariffs?
- Gold prices have soared amid uncertainty caused by U.S. President Donald Trump's tariffs, reaching a record high of over $2,942 per ounce.
- Trump's tariffs on steel and aluminum imports have been reinstated at 25 percent, affecting global markets and raising inflation concerns.
- Canadian Prime Minister Justin Trudeau called the tariffs 'entirely unjustified,' reflecting international discontent over Trump's actions.
- Gabriel Wildau of Teneo suggested that these tariffs could lead to sectoral retaliations from U.S. Trading partners in Europe and Asia.
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