Gold and Silver Surge Amid Global Trade Tensions and Economic Uncertainty
Gold broke through the $4,100 barrier for the first time on Monday, while silver hit an all-time high of over $52 per ounce, as investors sought safe havens amid escalating trade tensions and economic uncertainty.
The precious metals' rally comes as the U.S. and China engage in a heated trade dispute, with both sides imposing tariffs on each other's goods.
The U.S. and India are set to hold trade talks this week, following U.S. ambassador-designate Sergio Gor's meetings with Indian Prime Minister Narendra Modi over the weekend.
Meanwhile, President Donald Trump has softened his tone on trade tensions with China, reassuring investors that "it will all work out."
Gold dealers report record-breaking sales as Australians rush to buy bullion, driven by concerns over global economic instability and the potential impact of China's threats to clamp down on rare earth exports.
Experts warn that such a move could wreak havoc on U.S. tech giants, military contractors, and even car manufacturers like Tesla. Wall Street has rebounded strongly on Trump's reassurances, with stocks hitting record highs.
However, retailers are pulling back on holiday hiring plans amid economic uncertainty and tariff pressures.
American consumers are expected to bear the brunt of Trump's tariffs, with economists estimating that they will pay for over half of the costs this year.
In other news, the president of Madagascar has fled the country amid a coup threat, while in Austria, there has been a surge in youth crime involving Syrian nationals.
Former Trump State Department official Brian Hook has warned that China may use its U.S. farmland to attack America.
Bank of America has hiked its gold forecast to $5,000 an ounce, as investors continue to flock to the safe-haven asset.
Trump has addressed his chances of reaching heaven amid a Middle East peace deal, stating that he may not be "Heaven-bound" despite making lives better for many people in the region.
Soaring copper prices have fueled a wave of vandalism against electric vehicle (EV) chargers, stranding drivers across the country.
Meanwhile, a young woman has shared her terrifying experience of an emergency double surgery during her third trimester, highlighting the importance of prenatal care.
As the global economy navigates these uncertain times, investors and consumers alike are turning to precious metals and other safe-haven assets to protect their wealth.
With trade tensions and geopolitical instability showing no signs of abating, it remains to be seen how the markets and the global economy will fare in the coming months.
Sources:
- NY Post: "Gold breaks $4,100 on US-China trade jitters, while silver hits all-time high"
- ZeroHedge: "Stocks rally on TACO trade but gold prints another ATH - Newsquawk US Market Wrap"
- Mises Institute: "Both silver and gold sail to new all-time highs"
- NTD: "US, India to Hold Trade Talks Amid Russian Oil Dispute"
- YourNews: "Wall Street Rebounds Strongly as Trump Calms Fears Over China Tariffs"
- Bank of America: "Bank of America hikes gold forecast to $5K an ounce"
- Natural News: "Soaring copper prices fuel wave of vandalism against EV chargers, stranding drivers"
- TheEpochTimes: "Stocks Boom, Gold Shines—Why the Market Keeps Hitting Record Highs"