Tariffs, Fiscal Turmoil Could Drive Further Gains for Gold
The start of the week saw the price of gold surge by 4.8% to reach $3,358.13 as concerns among investors about the growing U.S. deficit and President Trump’s renewed threats of tariffs continued to fuel market uncertainty. Major credit rating agency Moody’s also downgraded America’s credit, calling attention to the country’s debt levels. This unsustainable debt is further compounded by the approval of Trump’s tax-and-spending package, which could add almost $4 trillion to the deficit. This has many fearing that America is spending far more than it can afford. During this period, treasury yields have surged on supply concerns, with…