📊 Gold hits five-week high
Gold climbed above $3,431 on Tuesday, marking its highest level since 16 June and recovering losses from the previous session.
Possible effects for traders
A weaker U.S. dollar (USD) and continued strong demand from central banks and investors seeking safe haven supported gold's rally.
Investor interest in gold has intensified as escalating U.S. tariff threats have raised concerns about a potential slowdown in global economic growth. U.S. President Donald Trump has warned of imposing tariffs on nearly all major trading partners if they fail to secure trade deals by 1 August, including a proposed 30% levy on imports from the EU. This warning has fuelled risk aversion and driven capital flows into gold, reinforcing its role as a hedge against economic uncertainty.
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