Gold prices rise after the imposition of the new Trump fees … but the strength of the dollar limits the gains

Raised Prices gold Friday morning, amid increasing tension in global markets after the announcement of the US President Donald Trump About imposing New customs duties On imports, including imports from Canada, in a move that sparked a wave of anxiety in the market, but that power Dollar American It was limited to the gains that the precious metal could have achieved.

Gold records a limited rise

By 02:45 GMT, gold rose in Instant transactions 0.3% to reach $ 3333.67 an ounceAs you went up US gold futures 0.6% to register $ 3345.10According to what was reported by the agency Reuters.

Customs duties shake the global trade scene

Trump announced yesterday, Thursday, the imposition 35% customs duties on Canadian importsIn addition to plans to impose fees ranging from 15% and 20% on imports from several commercial partners. A 50% fee has also been announced on copper imports, and similar fees on the commodities coming from Brazil, Japan, and South Korea. This is expected to enter New customs duties Implementation in August 1, 2025.

Analyst: “Markets are used to Trump’s policies”

Tim Water, chief market analyst at KCM Trade, commented:

“Although the escalation is in Trade war Gold is supposed to be supported as a safe haven, but investors have become more adaptable to Trump’s style of declaring customs policies, which explains the poor response in the market.

The power of the dollar is set

Go US dollar index Towards the best weekly performance since February 24, making gold more expensive for other currencies, and negatively affects the demand for metal. It is reported that gold is usually prepared from Safe origins Which investors resort to in times of economic and political uncertainty.