U.S. Tariff Increases Announced
On Saturday, President Donald Trump declared his intention to raise global tariffs from 10% to 15%. This decision follows the U.S. Supreme Court's dismissal of his proposed 'reciprocal tariffs'.
The new tariff measures are set to take effect immediately, although it remains unclear whether a formal decree has been signed.
European Trade Agreement in Jeopardy
In response to the escalating trade situation, the European Commissioner for Trade has suggested the possibility of suspending the ratification of the trade agreement with the United States.
India Delays Trade Talks
India has also postponed discussions aimed at finalizing a temporary trade agreement with the U.S., reflecting the broader uncertainty in international trade relations.
Geopolitical Concerns in the Middle East
Market participants are closely monitoring tensions in the Middle East, particularly fears of a potential U.S. military strike against Iran. Negotiations regarding Iran's nuclear program remain stalled, although new talks are scheduled to take place in Geneva on Thursday.
Gold's Role as a Safe Haven
In this climate of uncertainty, gold continues to fulfill its traditional role as a safe haven asset. Trading volumes for gold and other precious metals are expected to increase this week, especially with the reopening of Chinese markets following the holiday period.
