Gold prices concluded the past week at $3,355 per ounce amid rising global trade tensions and the recent U.S. decision to impose new tariffs.
Prices experienced significant fluctuations during the week, initially dropping to $3,300 per ounce at the start of trading due to trade threats, before recovering to $3,355.
Gold has maintained its appeal as a safe-haven asset, despite the U.S. Federal Reserve tightening its monetary policy and resisting interest rate cuts.
Additionally, the 50% tariffs imposed by the U.S. on copper have contributed to higher global gold prices, as they disrupted industrial metal markets and increased demand for gold.
It’s also important to note that fluctuations in copper prices indirectly affect other metals, such as silver, which in turn support gold pricing.
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