Gold and Silver Prices Surge After Tariff Threats, Sparking Economic Concerns
Gold and silver prices reached record highs while European stock markets fell due to rising geopolitical tensions. The surge in precious metals, with gold hitting $4,689.39 an ounce and silver reaching $94.08, was a result of investors seeking safe-haven assets amidst concerns over potential new tariffs imposed by the US on eight European countries. This followed US President Donald Trump’s announcement of tariffs on goods from these countries, which sparked fears of a trade war and led to declines in major European indices, particularly in the automotive, tech, and luxury goods sectors. The situation comes as the US Supreme Court is poised to rule on the legality of Trump’s tariff policies, which could further impact market movements and compound existing concerns over trade and global economic growth.
John Q. Hosedrinker