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Previous Metals Preview: Gold hits $3170 mark on safe haven buying
03-Apr-2025 09:15

Gold saw excellent safe haven buying as equities fell and risk aversion spiked after the US President Donald Trump announced a sweeping 10% tariff on all imported goods, with even steeper reciprocal duties for certain nations. Trump unveiled new trade measures, slapping a 24% reciprocal tariff on Japan, despite its status as one of the United States' closest allies. China faces an additional 34% tariff, adding to the existing 20% levies. Meanwhile, the European Union, and others will see tariffs ranging from 20% to 49%. Additionally, the White House announced a 25% tariff on foreign-made automobiles and key auto parts. COMEX Gold is holding near $3171 per ounce, up 0.10% on the day right now and should provide a boost to local Gold futures.

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