Gold prices surged on Monday, rebounding from last week’s sharp decline, as investors grew increasingly concerned about the impact of US trade policies. The move came ahead of US President Donald Trump’s plans to impose new tariffs on Canada and Mexico, while also doubling a levy on China.
As tensions rise over trade, investors have been seeking safe-haven assets like gold, which rose above $2,890 an ounce. Meanwhile, the value of the dollar plummeted as investors lost confidence in its strength against other currencies. The US dollar index fell to its lowest levels in months, signaling growing fears about the economic outlook.
Source: https://www.bloomberg.com/news/articles/2025-03-03/gold-xauusd-gains-after-pullback-as-trump-tariffs-stoke-economic-fears