Gold Prices Remain Near Historical Highs
Gold prices commenced the week on a strong note, trading close to all-time historical highs.
As of Monday, the price of an ounce of gold experienced a slight increase of 0.3%, reaching $2,868. This follows a peak price recorded last Friday, where gold traded at $2,886 in the preceding trading session.
On Monday, gold prices saw an additional rise of 0.2%, bringing the price to $2,894 per ounce.
In the backdrop of these developments, U.S. President Donald Trump announced the imposition of a 25% tariff on all imported aluminum and iron products. Furthermore, he indicated plans to implement reciprocal tariffs on countries that have previously levied tariffs on U.S. goods, expected to occur on Tuesday or Thursday this week.
Trump stated, "The trade conflicts continue and they can soon raise the price of gold to $2,900 or beyond. In the near future, we are unlikely to see a significant decline in gold prices unless the dollar strengthens against other currencies."
As global economic dynamics continue to shift, the trajectory of gold prices remains a focal point for investors, particularly in light of current trade tensions. Investors are advised to stay informed about these developments, as they could significantly impact market conditions in the near term.
