Market Overview
Gold prices (XAU/USD) is trading at $2,923 after it climbed to $2,942, extending their bullish momentum as investors seek safe-haven assets amid escalating trade tensions. The rally follows U.S. President Donald Trump’s decision to impose a 25% tariff on steel and aluminum imports, sparking fears of higher inflation and economic uncertainty.
Markets anticipate that these protectionist policies could drive up input costs, leading to broader inflationary pressures. “Investors are treating gold as an inflation hedge, particularly as protectionist measures raise economic risks,” noted James McCarthy, a senior commodities strategist at New York Gold Advisors.
Financial Market Newsflash
Tuesday, April 22, 2025
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