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GOLD: Tariff Threats Lead Investors to Gold.

GOLD
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  • News on potential tariffs on steel and aluminum by the US continues to reverberate through financial markets, shaking investor confidence.
  • Gold safe haven status has seen another day of gains and its rise swift early in the day reaching a new high of $2,942.68, before giving back some of those gains to be at $2,919.75  – comfortably higher than the opening price of $2,908.26.
  • Gold’s ‘safe-haven’ status ensures that in periods where the unpredictability of President Trump’s comments or threats on tariffs spooks markets, gold climbs.
  • Evolving news out of China could have material impact for gold as a pilot program for insurance funds is being launched that allows diversification of their asset allocation into gold; with estimates ranging of US$25 to $30 billion could be allocated to the scheme.
  • Gold’s appeal is having far reaching impacts globally with South African listed goldminers jumping 2.3% on Monday, following Trump headlines on tariffs.
  • Given Gold is impacted by interest rate movements, the day ahead sees the Federal Reserve Chairman Jerome Powell’s semi-annual testimony to lawmakers where market observers will pore over every word for hints as to the direction of interest rates. 
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  • News on potential tariffs on steel and aluminum by the US continues to reverberate through financial markets, shaking investor confidence.
  • Gold safe haven status has seen another day of gains and its rise swift early in the day reaching a new high of $2,942.68, before giving back some of those gains to be at $2,919.75  – comfortably higher than the opening price of $2,908.26.
  • Gold’s ‘safe-haven’ status ensures that in periods where the unpredictability of President Trump’s comments or threats on tariffs spooks markets, gold climbs.
  • Evolving news out of China could have material impact for gold as a pilot program for insurance funds is being launched that allows diversification of their asset allocation into gold; with estimates ranging of US$25 to $30 billion could be allocated to the scheme.
  • Gold’s appeal is having far reaching impacts globally with South African listed goldminers jumping 2.3% on Monday, following Trump headlines on tariffs.
  • Given Gold is impacted by interest rate movements, the day ahead sees the Federal Reserve Chairman Jerome Powell’s semi-annual testimony to lawmakers where market observers will pore over every word for hints as to the direction of interest rates.