#GOLD_UPDATE Gold Price Forecast: XAU/USD climbs above $3,350 as Trump rekindles trade tensions
Gold price drifts higher to near $3,365 in Monday’s early Asian session. Trump's announcement of new tariffs on the EU and broader tariff threats against other trading partners lifted demand for Gold. Fed’s Goolsbee said the latest tariff threats could delay rate cuts.
The Gold price (XAU/USD) extends its upside to around $3,365 during the early Asian session on Monday. The precious metal edges higher as traders rushed toward the traditional safe-haven assets after US President Donald Trump widened the global trade war with a fresh wave of tariffs.
On
#SaturdayNight , Trump said that the United States (US) will impose a 30% tariff on goods from the European Union (EU) and Mexico that will take effect on August 1. Trump also announced a 35% duty on Canadian imports and proposed a blanket tariff rate of 15%-20% on other trading partners last week, along with a 50% tariff on copper imports. Concerns over the impact of Trump's latest tariffs boost the yellow metal as investors seek shelter from trade tensions
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