Commodities
Gold Climbs as Investors Seek Safety Amid Tariff Flip-Flop
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Gold climbed — regaining a small foothold above $2,900 an ounce — as traders sought safety in bullion, with President Donald Trump’s latest tariff announcement intensifying concern that a global trade war could risk tilting the US economy into a recession.
Trump said he was increasing the steel and aluminum tariff on Canadian goods to 50% to retaliate against Ontario’s move to place a levy on electricity sent to the US, ramping up his fight with the US’s largest trading partner. US equities pushed lower and the dollar fell, helping lift bullion as much as 1.2% higher.