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With the 50-day moving average trending upward at $2,782.12, gold remains well-supported, reinforcing a “buy the dip” strategy among traders.
At 13:13 GMT, XAU/USD is trading $2925.79, up $32.81 or +1.13%.
Safe-Haven Demand Rises as Trade War Escalates
Gold is benefiting from increased safe-haven inflows as global trade tensions escalate. President Donald Trump’s newly imposed tariffs on Canada, Mexico, and China have sparked fears of economic instability. The U.S. has slapped a 25% duty on Mexican and Canadian imports while doubling tariffs on Chinese goods to 20%. In response, China has announced retaliatory tariffs ranging from 10% to 15% on select U.S. imports, including agricultural products.
Market analysts see this as a major risk factor pushing investors toward gold as a hedge. “With Trump 2.0 delivering exactly the chaos he promised, Western investors are joining emerging-market central banks in buying gold as an all-weather hedge,” said Adrian Ash, head of research at BullionVault.
Falling Treasury Yields Provide Additional Support
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