Gold prices surged to a historic high of $2,941 per ounce during Asian trading on Tuesday before quickly retreating $30 to $2,910.
The volatile movement came in response to President Trump’s announcement of 25% tariffs on steel and aluminum imports, with traders concerned about potential future tariffs on gold.
The day’s volatile trading pattern underscores both the strong bullish sentiment driving gold to new heights and the market’s sensitivity to rapid price increases.
Original Source: TradingView.com
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