The euro continued to gain ground against the US dollar, surging 1.23% over $1.1500 for the first time since November 2021. Trade tensions between the United States and China continued to affect markets, sparking fears of long-term economic uncertainty and US economy plunging into recession. The euro surged 1.19% against the dollar at 5:14 am CET, changing hands at $1.15073.
Gold climbs to new all-time high of $3,361
The price of gold regained its upward momentum after briefly falling last week, with gold hitting a fresh all-time high of $3,361, indicating continued demand for safe-haven assets amid lingering economic uncertainty. United States President Donald Trump’s tariffs and China’s retaliatory measures, which erupted into a trade war between the world’s largest economies remained in investors’ focus. Meanwhile, Trump declared the world is aware that Washington is “serious” about duties, adding that the “one who has the gold makes the rules.” Federal Reserve Chair Jerome Powell’s comments about tariffs potentially preventing the bank from reaching its goals and harming the economy also affected the market mood. Gold jumped 1.01% at 9:54 pm ET, selling for $3,361.01 per ounce. Silver added 0.25% a minute later to sell for $32.66 per ounce while Platinum increased 0.17% and sold for $973.19 per ounce at 9:56 pm ET. Palladium traded flat, exchanging for $946.07 per ounce a minute after.
nn: everything is in a state of flux. when the trade deals start to me made the dollar will soar and gold will crash