The protectionist policy of Donald Trump gave further push laurelwho reached a new one this morning historical recordjust positioning himself Above 2,900 dollars the ounce. The surge of the precious metal incorporates the geopolitical uncertainties and the concerns about the reflections of a “Dated war” Between the United States and China, after Beijing responded to the new rates imposed by President Donald Trump. But the new record also comes in a period of the year in which the metal prices are traditionally high, due to the demand linked to the celebrations of the Chinese New Year.
Over 2,900 dollars quotes
The precious metal touched a value of 2,877.15 dollars the ounce on the market spotwhile the Future For April delivery on international markets It has touched a peak of 2,901.41 dollars The ounce, and then reassemble to 2,881.66 dollars (+0.20%). A performance that pinns on its nature as a good refuge.
The demand for refuge assets
Gold, together with the dollar, is a “Safe Heaven” (good refuge) purchased in periods of great uncertainty and in response to growing tensions internationally. In recent days, also the green ticket He had earned a lot of land, especially on Monday, when he had crushed the euro on minimums of 1,0141 on the threat of new duties by the USA. But the postponement decided by Trump for Mexico and Canada then rebuilt the change market, reporting the euro out of 1.0421 dollars.
The first moves of Trump
The Trump presidentwhich last week had also announced 25% duties against Mexico and Canadathen decided to postpone by thirty days the application of the new rates on imports of goods from these countries, after starting interviews with the Canadian leader Justin Trudeau and with the Mexican approval Claudia Sheinbaumwhich promised to immediately send 10,000 soldiers to the border with the US to stop the flow of Fenanyl and illegal immigrations in the USA.
No discount in China
A more rigid attitude has been reserved for Chinasince Trump has let 10% duties on imports, obtaining a counterattack of Beijingwhich announced 15% duties on coal and GNL imports and 10% on oil, cars, pickups and agricultural machines.
A few clouds on the horizon
If the reaction of the markets immediately was to push gold on new historical records, it scenario for the future appears much less brilliantbecause Trump’s protectionist policy itself risks giving up again inflationforcing the Federal Reserve a block the adjustment of the rates of the rateswith negative effects on gold. Morgan Stanley’s analysts have already reduced their expectations, anticipating only one cut of the rates in 2025, even less than the two budget cuts before Christmas.
