According to the Financial Times, the White House is planning on issuing an executive order to clarify any “misinformation” around tariffs on gold bars.
Gold futures prices jumped, causing a premium of over $125 per ounce, due to new tariffs on Swiss gold imports to the US. Impact on ETFs remains uncertain.
Citigroup Inc. (NYSE:C) raised its three-month gold price forecast to $3,500 per ounce from $3,300 on Monday, citing deteriorating U.S. growth and inflation outlook.
The recent surge in silver prices is just the beginning, with shrinking supply and rising demand pointing to a potential price squeeze. Silver outperformed gold and its bull market seems well-supported.
Trump's 15% tariff on South Korea imports and $350B investment promise are shaking up ETF market. Look for gains in US infrastructure, industrials, semiconductors, and energy sectors.
Investors anticipate Trumpflation as President Trump's inflation-stoking policies, including tariffs and deficit spending, may drive up costs and impact markets.
In July, China's four largest onshore gold-backed ETFs experienced a combined net outflow of approximately 3.2 billion yuan ($450 million), according to a Bloomberg News report.
Spot gold prices slipped 0.1% to $3,335.39 per ounce at 04.53 a.m. ET, while the U.S. dollar index, which compares the greenback with a basket of currencies, advanced 0.5%.
Billionaire investor Ray Dalio advised a 15% portfolio allocation to Bitcoin (CRYPTO: BTC) or gold, citing mounting U.S. debt concerns and potential currency devaluation risks.
