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GOLD JUMPS TO $3,050 AS US TARIFFS GO INTO EFFECT

Tina Collins

Tina Collins

— 1 min read
GOLD JUMPS TO $3,050 AS US TARIFFS GO INTO EFFECT
GOLD JUMPS TO $3,050 AS US TARIFFS GO INTO EFFECT

GOLD JUMPS TO $3,050 AS US TARIFFS GO INTO EFFECT

Gold prices soared to a record high of $3,050 per ounce on Wednesday, marking a significant increase as new U.S. tariffs were implemented. ​

President Donald Trump enforced tariffs of up to 104% on Chinese imports, aiming to address trade imbalances. ​

The tariffs heightened global economic uncertainty, leading investors to seek safe-haven assets like gold.​

The U.S. dollar weakened as a result of the tariffs, further boosting gold's appeal. ​

Prior to the tariffs, markets anticipated potential delays or modifications, with reports suggesting President Trump considered a 90-day pause for tariffs on all countries except China. ​

The tariffs contributed to global economic instability, with warnings about potential recession risks and escalating trade conflicts. ​

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