According to data from Jin10, analysts at Mitsubishi UFJ Bank pointed out that with the market weighing tariff risks and the unclear prospects for monetary easing, precious metal prices have risen. Trump's comprehensive tariff proposal will take effect on August 1, increasing market uncertainty and boosting gold's appeal as a safe haven.
The Federal Reserve has sent mixed signals regarding the prospects of interest rate cuts, weakening the appeal of non-yielding gold. Since the beginning of the year, geopolitical tensions, central bank purchases, and economic concerns have driven gold up nearly 27%.