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The escalating trade war between the US and China has kept gold prices hovering near historic levels, with spot gold at $2,814.94 per ounce following an all-time high of $2,830.74.
President Trump’s implementation of 10% tariffs on Chinese goods sparked immediate retaliation from Beijing, including countervailing duties and an antitrust probe into Google. The conflict has created significant disruption in precious metals markets, with US prices climbing above global benchmarks and traders scrambling to move large volumes of gold and silver into America ahead of potential tariffs.
The situation has also triggered a spike in gold and silver lease rates in London’s vaults. Market watchers are closely monitoring the dollar’s strength and both nations’ economic resilience, while the Federal Reserve maintains a cautious stance, having paused interest rate adjustments to assess the new administration’s actions.
