Trump Tariffs Drive Gold Above $3,100 and Push Copper Near Record Highs

The price of gold soared to over $3100 per ounce while copper neared peaks amidst growing worries about trade tariffs under the previous administration of Donald Trump’s presidency resuming office in 2024.

The uncertainties surrounding trade have led investors to seek the safety of assets such as gold due to concerns about inflation risks and currency fluctuations amid market volatility caused by increasing trade measures.

Copper prices also rose due to the increased demand driven by the trend toward electrification and worries about supply chain disruptions playing a role. Traders view copper as influenced by geopolitical changes as well as future infrastructure investments.

Key highlights:

• When the price of gold surpasses $3100 per ounce, it indicates that markets are factoring in concerns about inflation and a decrease in trust towards currencies.
• The robustness of copper underscores worries about limitations in supply and the continuous demand fueled by infrastructure projects.
• The prices of goods are now more influenced by messages as election talk heats up.

Investors and traders need to keep an eye on the proposed trade policies because of the specifics of tariffs. Like when they will be implemented and which sectors they target. Can have effects, on metal markets. During unfolding election events, it is advisable to hold onto positions in gold and copper as a safeguard against uncertainties and changing dynamics in global trade.