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

Precious metals are rallying strongly as investors seek safe havens amid growing trade tensions. Silver has surged to its highest level since October, climbing 3.1% to over $33 per ounce, while gold continues its longest winning streak since August 2020 with seven straight weeks of gains. The surge follows President Trump’s order for new country-specific tariffs, adding to his existing 10% levies on Chinese goods and planned 25% duties on steel and aluminum imports. The metals’ strong performance is supported by multiple factors beyond trade concerns. Central banks, particularly China’s, have been increasing their gold reserves, while investors have been

A rare disconnect in global gold markets is forcing major banks to take extraordinary measures, flying billions of dollars worth of physical gold from London to New York. The situation emerged after Trump’s tariff threats against Europe caused London’s physical gold prices to trade about $20 lower than New York’s futures market since December. This price gap has put pressure on banks like JPMorgan and HSBC, who typically hold gold in London while selling futures contracts in New York as a hedging strategy. With gold futures rising 11% this year to $2,909 per ounce and potentially approaching $3,000, banks are

Gold continued its impressive rally, marking its seventh consecutive weekly gain amid escalating trade war concerns. The precious metal rose 0.3% to $2,936.99 per ounce, bringing its weekly advance to 2.6%. President Trump’s recent call for reciprocal tariffs and ongoing economic uncertainty have strengthened gold’s appeal as a safe-haven asset, with analysts eyeing the $3,000 mark as the next significant target.