Gold prices reach 3-week high amid trade war
Gold just jumped to its highest price in three weeks after President Trump threatened 30% tariffs on EU and Mexican imports, starting August 1.
The move has investors looking for safer bets, pushing gold up to $3,361.19 per ounce.
Global uncertainty driving more folks toward gold
Trade tensions usually make people nervous about the economy, and gold is often seen as a safe place to park money when things get shaky.
With markets expecting US interest rate cuts soon, this spike shows how global uncertainty is driving more folks toward gold.
Tariff threat shakes up global markets
Trump's tariff threat comes after drawn-out talks with major trading partners stalled out.
While the EU and Mexico aren't happy about it, investors are reacting by moving money into gold and other precious metals—though only silver saw a small gain while platinum and palladium actually dropped.
All this highlights how quickly trade policy can shake up global markets.