Reported about 9 hours ago
Gold experienced a turbulent trading session, soaring to a record high of over $2,942 an ounce before retreating, following President Trump's announcement of new tariffs on US steel and aluminum. This push for domestic production has led to an 11% increase in gold's value this year, as investors seek security amidst trade tensions and potential inflation, with speculations that prices could reach $3,000 an ounce soon. Inflation expectations are rising, and traders are awaiting Federal Reserve Chair Jerome Powell's testimony for insights into future monetary policy.
Source: YAHOO