Gold price on record course: Trump's customs policy sparked gold rush!

Gold price on record course: Trump's customs policy sparked gold rush!

Kiew, Ukraine - In the past few days, the gold price has experienced an impressive increase. The course for a troy ounce rose to a sensational $ 2,938 on Thursday and thus almost reached a record high, which was recorded at $ 2,956 at the end of February. This development is strongly driven by the aggressive customs policy of the new US government under Donald Trump, which has had a significant influence on gold prices since taking office in January. Since then, the precious metal has gained over 8 percent of value, with investors increasingly looking for gold as a safe port in the middle of geopolitical uncertainties, including the continuing war between Russia and Ukraine, such as reporting from OE24 Show.

Trump has also caused a stir in recent times with his trading policy. After a violent criticism of his controversial politics, he steered in the customs dispute with Mexico and Canada and suspended some duties he imposed until April 2. These tariffs of up to 25 percent affect imports affect numerous goods and have triggered concern both in the USA and internationally. While the Asian steel industry and other sectors come under pressure, the European economy remains tense, since many trading partners question the reliability of the United States, such as ZDF reported.

geopolitical tensions and trade strategies

economists warn that the reluctant monetary policy of the US Federal Reserve could come under pressure if the tariffs result in an increase in consumer prices. Bart Melek from TD Securities explained: "The US Federal Reserve could force an acceleration of the price bullet to refrain from the planned interest smears." These developments are of central importance for the gold price and could result in further price increases, while the markets are still shaped by uncertainty.