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Gold hit a historic high of $2,903 per ounce following President Trump’s announcement of impending steel and aluminum tariffs.
The surge reflects growing market uncertainty, with investors turning to gold as a safe haven.
China’s increased gold reserves and new policy allowing insurers to invest in bullion further strengthen the metal’s position, despite potential headwinds from Fed policy.
China’s continued expansion of gold reserves and new policy allowing major insurers to invest up to 1% of assets in bullion (potentially $27.4 billion) further reinforces the metal’s bullish outlook.
