Gold Holds Above $5,000 as Trump Tariff Threats Boost Safe-Haven Demand
Gold Holds Above $5,000 as Trump Tariff Threats Boost Safe-Haven Demand
Gold climbs past $5,000 with spot near $5,065 as tariff threats and geopolitical jitters boost safe-haven buying, while silver hovers near all-time highs.
Gold rose above $5,000, with spot gold around $5,065 per ounce and U.S. gold futures for February delivery near $5,060, after briefly breaking through the $5,110 level in the previous session. This move underscores a continued safe-haven bid amid geopolitical uncertainty and policy tensions.
Geopolitical risk and tariff threats are fueling demand for gold as a defensive asset, with traders weighing how policy shifts could widen market jitters and keep bullion attractive even in a high-price environment.
Trump has floated higher tariffs on Canada and South Korea, including a 25% levy on autos, lumber, and pharmaceuticals, a development that has reinforced concerns about global trade and added to the appeal of gold as a hedge against policy surprises.
Currency moves have also supported the metal, as interventions to steady the yen and broader dollar weakness have helped gold priced in dollars gain traction. The prospect of a looming U.S. government shutdown and ongoing policy volatility add to the risk backdrop for precious metals.
Market participants will be watching for fresh headlines on tariffs and geopolitical tensions, as well as any shifts in the dollar, to gauge whether the bullion rally can sustain itself in the near term.
