100 Days In: Trump’s ‘Strategic Uncertainty’ on Tariffs Leaves Markets Guessing

Gold extended its gains for a second consecutive session on Tuesday, rising 0.9% to $2,919.44 an ounce as investors flocked to safe-haven assets amid escalating global trade tensions. President Trump’s implementation of 25% tariffs on Mexican and Canadian imports, along with doubling duties on Chinese goods to 20%, triggered immediate retaliation from China through additional tariffs and new export restrictions. This trade conflict, described by BullionVault’s head of research as “Trump 2.0 delivering exactly the chaos he promised,” has bolstered gold’s appeal as an “all-weather hedge” for both Western investors and emerging-market central banks. Gold has gained 10% this year,

Gold prices have climbed above $2,915 per ounce as escalating trade tensions drive investors toward safe-haven assets. President Trump’s recent tariffs against Canada and Mexico, along with doubled charges on China, triggered swift retaliation, including Beijing’s implementation of 15% duties on American farm goods. This trade war escalation, combined with the U.S. pausing military aid to Ukraine, has created significant market uncertainty. After reaching a record high of nearly $2,955 in February followed by profit-taking, gold has recovered approximately 2% this week. Goldman Sachs analysts project gold could reach $3,300 per ounce by year-end due to policy uncertainty. Meanwhile, disappointing