Geopolitical Risks, Trade Uncertainty Help Gold Rally
The start of this week saw gold surge to its highest level in three weeks, supported by rising geopolitical strain between Iran and the United States and renewed uncertainty surrounding American trade policy, both of which strengthened demand for safe-haven assets. This comes after the U.S. Supreme Court blocked President Donald Trump’s attempt to use the IEEPA as a basis for implementing broad reciprocal tariffs late last week. In response, the White House turned to Section 122 of the 1974 Trade Act, introducing a temporary across-the-board import tariff of 10%. This figure was later increased to 15%. The tariff came into effect on February 24 and may be enforced for up to 150 days, without requiring congressional authorization. As expected, this development has reignited concerns over global trade stability and…
