Gold Breaks All-Time Highs as Markets React to Trump’s Tariff Threats
Gold prices skyrocketed on Friday, achieving a new record high at $2,800.93 per ounce. The surge follows comments from U.S. President Donald Trump, who confirmed the imposition of 25% tariffs on Canada and Mexico starting February 1. The geopolitical landscape became increasingly turbulent as Trump also hinted at imposing 100% tariffs on BRICS nations that challenge the supremacy of the U.S. dollar. Currency fluctuations, inflation concerns, and shifts in international trade dynamics are contributing to gold’s status as a preferred safe-haven asset. As uncertainty grips global markets, investors drive gold prices higher, with heightened interest likely to continue amid upcoming economic reports.