Gold prices soar as Trump threatens tariffs on Indian imports
Gold prices climbed on Thursday after President Trump announced steep new tariffs on Indian imports, pushing investors to look for safer places to park their money.
Spot gold hit $3,378.18 per ounce and US futures reached $3,445.60.
The move comes as weak US job data has people betting the Federal Reserve might cut interest rates soon.
Gold shines brighter amid tariff tensions and Fed rate cut
The new tariffs—set to raise duties on some Indian exports to 50% later this month—have made gold even more appealing.
Tim Waterer from KCM Trade shared that ongoing tariff threats keep investors interested in gold during uncertain times.
Plus, with the dollar dropping after disappointing jobs numbers and a possible Fed rate cut looking likely (95% chance according to FedWatch), gold is seeing a fresh wave of demand from those wanting stability right now.