Trump's Tariff Announcement
On Saturday, President Trump revealed plans to impose a 10% tariff on imports from eight European countries starting February 1. He indicated that this rate could escalate to 25% by June if negotiations regarding his proposal to purchase Greenland do not yield results.
Market Reactions and Geopolitical Tensions
This announcement has reignited concerns within the markets and heightened geopolitical pressures, leading to an emergency meeting among European leaders. They are considering retaliatory actions, including tariffs on American products valued at €93 billion.
Gold's Continued Ascent
Gold has continued its impressive upward trajectory this year, building on a strong performance in 2025. The precious metal is benefiting from increased capital flows into safe-haven assets amid ongoing geopolitical tensions in Venezuela and Iran, as well as rising concerns regarding the independence of the Federal Reserve.