The Trump administration announced tariffs on 8 European countries including Germany, France, the UK, and Denmark (10% starting February 1, rising to 25% from June).
$XAUT Gold's safe-haven attributes have been pushed to the limit in this round of geopolitical crises: prices hit record highs; spot gold has surged past $4,700/ounce, with a peak around $4,750. Since the beginning of the year, the increase has exceeded 8%.
Safe-haven demand: Faced with the breakdown of US-Europe trade relations and internal NATO conflicts, capital has flooded into hard assets.
De-dollarization accelerates: